POWERFACT: Top agents say that 66% of their business comes from their sphere of influence annually, but ONLY if they stay in touch. Putting a system in place to do that is not a should do, it’s a must do.
Throughout my many, many years in this business, one comment continues to bubble up from agents that have been in the business for years. That is, “I wished I had started keeping track of my book of business sooner.” Hands-down, it is one of the most important things you can do to build a solid, sustainable career with a referral base you can count on. As we head into the holidays and many agents begin to slow down, remember their lack of marketing and contact could be the very window you need to pick up additional market share.
Let me explain in this video:
When I speak on this topic with agents, I often refer to an extraordinary agent and savvy businesswoman Annette from Long Island. At dinner, with a group of agents and mortgage professionals, we were all talking about the importance of staying in touch with your sphere and knowing your numbers. We asked, how many are in your sphere? She, without blinking or hesitation, said 997. Wow — right? That’s specific! She said she knew exactly the amount because that’s the number she mails to every month and follows up via client events and one-on-one interactions every year. Annette doesn’t have to prospect anymore. The business comes to her via referrals. That’s a model to remember!
On our Do’s and Don’ts of Real Estate Farming webinar last week, we talked about the benefits of consistent farming — whether to a niche or a geographic farm area or neighborhood. Just like it’s sphere of influence cousin, your farm area needs to be in a CRM as well – so that you know who you are connecting with, when, and can keep tabs on that prospecting activity.
The ultimate goal is to move those folks from your farm, into your sphere – which includes people who already know you, like you, and trust you enough to do business with you. When you turn a homeowner in your farm into a client – they then become part of that sphere as well as your farm.
“But Darryl — WHICH CRM?” I’m asked that a lot, and I get it. I usually tell agents, “Whichever one you use!” We have many listed on our Recommended Vendors tab in the Classroom, including LionDesk, Top Producer, and Wise Agent. These vendors have been sourced and recommended by our membership.
We know many of you are already wisely working on your business and marketing plans for the new year. (KUDOS to you!) Power Agents®, we put together two calculator spreadsheets for you to help you determine how many people should be in your sphere of influence, as well as how to calculate your return on investment for your farm areas. You’ll find them both (plus a video tutorial) in your Time and Money Management tab in the Classroom.
If you’ve NOT yet put your contacts and clients into a CRM, this month is an excellent time to get started so you have a system in place for the new year. There will be a lot of college kids who might be willing to help you input data during the holidays for a little extra cash or you could use a temp service. That way you can spend your time prospecting and presenting!
If you missed last week’s webinar –the Do’s and Don’ts of Real Estate Farming, no worries! We’ve made it available on demand for you. It was a comprehensive hour filled with the best strategies for creating and developing your farm area!
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