We are already one month into 2017 so that means the trial month is gone and we are moving full speed into growing our business. Growing a real estate business seems easy in theory but it is quite difficult. If you are looking to consistently grow your business, here are 3 things you should be doing in 2017.
1. Thanking the Past
Every business should have some sort of customer relationship management system. It can be from an online software or an excel spreadsheet. Many real estate businesses overlook their previous clients. These are the people who have already done business with you and getting a referral from them is the best kind of lead. Word of Mouth is the strongest form of marketing that money can’t buy. Word of mouth comes with trust and experience.
Some tips in connecting with your past clients
- Card Mailing List
- Follow up phone call
- Professional Facebook
Card Mailing List
Sending out periodic holiday or greeting cards will help your previous clients remember your name and number. It’s important to stay “top of mind” in conversations and this is an easy way to do that. I normally receive birthday cards or holiday cards from my doctor's, auto shops, title companies we’ve done business with. Do they need to stay top of mind with me… probably not but it's one of those gestures that shows your past clients that we appreciate your business and that you matter to us.
Follow up phone calls
Not as easily streamlined as the mailing list but giving your previous clients a follow-up call after a deal or giving them periodic calls to let them know that you still remember them really goes a long way. Even a friendly call just to see how everything has been since they moved will show them that you appreciate their business and who knows, they might just have someone who is looking for an agent at that time. It’s good to call your clients once every half a year or so.
Real Estate and business are constantly expanding into social media. It’s not a bad idea to add your previous clients on your professional facebook profile. When you post content about yourself or business, your clients will get to connect with you. In this day of age, people prefer to do business with people they are connected to. Social media has allowed businesses such as Coke, Pepsi, and many more to connect directly with their consumers… why not do so as well.
2. Hustling in the Present
Along with past clients relationships, you also have to be hustling in the present. You need to be taking every opportunity to work with clients that are currently in your pipeline. One thing I’ve learned from my years of doing real estate is that some clients are passive. You have to have the initiative to follow up. Just by adding your clients onto a MLS search list is not enough. You should have a system setup to communicate with the clients to make sure that they are looking at the MLS listing or if the search criteria will need adjusting. This should be the primary focus out of the three tips since the other two tips can be done passively. You don’t get paid until a deal closes, so you will need to hustle with every opportunity and deal you have.
3. Marketing to the Future
Many real estate businesses forget the most crucial part of their business. And that is marketing. If you don’t market for the future, you will always be in this cycle of a busy month and a marketing month. It still works, but I’m sure a lot of real estate businesses’ goals in 2017 is to expand and get more business. You should always have certain marketing promotions or plans going out during the times you are hustling.
Some example of marketing:
- Facebook ads
- Print ads
- Post cards and brochures
Facebook is a great way for real estate businesses to promote their service. The majority of the population has facebook and even when you are scrolling through your facebook feed, you will see some sort of advertisement that caters toward your recent searches. This is a great way for businesses to direct market toward clients who might be interested in real estate services. There's so much leverage and room for using facebook advertisements as it allows you to track, target and promote content to the right audience. All the attention is there.
Traditional but not 100% obsolete… yet. There is certain markets and clientele that will still use print advertising. It’s very important that you know your target and caters toward wherever their attention is at. I’m Chinese, so there is a part of me that doesn’t want to give up the Chinese market because there is tons of potential there. Many Chinese clients, 40’s year old+ that still reads Chinese newspapers and prefer print over social media.
Postcards and Brochures
The affordable way for direct marketing will be post cards. You can contact your office or title company to receive a list of address that you can market to that fits your marketing criteria. Every month you should be marketing toward a market that you want to obtain some business. Direct marketing is a little bit old school but it works in terms of getting your name out there and potentially receiving an extra client that happens to need your service.
So in 2017, the main focuses of your real estate business should be on building past relationships, working with the current business and marketing for future business. If you remember to “thank the past”, “hustle in the present” and “market to the future” your business should strive this year and for years to come.