Wednesday, November 6, 2013

New Real Estate Agents - What Should You Be Doing All Day?

The Hamster Wheel

New real estate agents often find themselves in this scenario:

They hold open houses on Sunday, follow up with open house attendees on Monday, go to Caravan on Tuesday, look up properties for a few hours for a potential client on Wednesday, attend the office meeting on Thursday, put together some flyers for the open house next Sunday, talk to two or three people about referrals, talk to other agents in the office, maybe show their prospective clients some houses on Saturday.

OK, maybe I'm exaggerating a bit. But only a bit. Many, many agents who want to work hard and be successful, simply don't know what to do with their time. Because their prospecting efforts feel so inconclusive, they don't feel like they're accomplishing anything, so they drift. Or perhaps they just haven't decided on what sort of prospecting to do yet.

Newer agents, even agents who've been in business for a couple of years, may feel like they've been trained to "do" real estate, but they don't have any clients to "do" it on.

What Could You Be Doing?

If this is how you feel, you're not alone. Not by a long shot. And the cure isn't difficult. I'm guessing you already know what you could be doing, but you're not doing it. Like...

  • You could be knocking on cold doors three to four hours per day, setting appointments, then following up on your contacts and appointments that afternoon.

  • You could be going to networking meetings, community events, store owners, and libraries promoting your upcoming free workshops. Then spending afternoons creating the workshop and evenings running workshops and conducting appointments.

  • You could be calling every expired in the MLS every day. That would take a while. So what if you only get one listing per month from those efforts?

The point is, there are many RIGHT things you could be doing all day long to keep yourself busy and build a 6-figure real estate business in 12 months or less.

Sustainability vs. NOW Business

The problem in real estate is often the viewpoint. It's often about the NOW business. But it should be about filling the pipeline so that you have a sustainable FUTURE business. That may be hard for a newer agent who needs business to feed his or her family, but it is the only way to get off that hamster wheel so you're not in the exact same situation again next month.

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