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Want to Grow Your Real Estate Business? DO LESS!

March 20 2018

la grow dolessA common complaint we hear from real estate agents is that they feel like they just can't "get things in gear and execute." The result is they feel they aren't growing as fast as they should. It's true they aren't growing, but not for the reason you would think.

So if it isn't lack of being able to execute on new initiatives, what is the issue? It's simple. They are doing too much. They are doing so much, in fact, that they've lost focus on the things that bring the most value to their business and it's actually harming their success.

One of the things I find the most interesting about the real estate industry is how there are so many people and companies out there that are trying to sell Realtors so many things. Some of these technologies and platforms are great. The vast majority of them, though, are either terrible platforms that will never deliver what was promised, or are platforms that while great, don't fit in the model of "being" a real estate agent, so they never get effectively used, and therefore are also failures of products.

The people that sell these products are great salespeople and get agents to sign up on long-term contracts. Before you know it, an agent has signed up for three, four or even more of these platforms and suddenly they find themselves short on time, trying to do everything, and getting nothing of any importance done. The net result is the things that were supposed to be helping them grow their real estate practice and succeed are actually the things that are taking food off the agent's table.

So how do you get out of this trap?

It might seem like a tough task. After all, out of that rat's nest of platforms and initiatives you have on your plate, which ones can you afford to lose? You have to choose carefully; you don't want to stop a particular initiative only to find out later that it was actually making you the most money. Here are a few tips on how you can analyze these platforms and initiatives, get rid of those that don't fit in your overall goals for success, trim them down, and allow you to do less, while making more money.

1. Low bearing fruit: Get rid of those things you do "for the sake of doing them"

This is a simple one. So many people have things they do not because it fits in the framework of their goals, but because someone else told them they should, or they have seen a top producing agent do it, etc. The fact of the matter is there is no "one size fits all" when it comes to planning your marketing strategy. So if you don't know why you are doing it, and you can't quantify anything it's doing for your real estate practice, get rid of it.

2. What daily activities annoy you most?

This is another easy way to trim the fat and "do less." Every agent has a list of things that they do on a daily basis that just annoy the heck out of them. What annoys you in your day to day? Figure that out and make a list. The law of averages says many of these annoying things are things that don't come up very often, but when you do have to do them, you hate them. This is a prime item you should dump off your list. The truth about any marketing initiative is that  is everything when it comes to the success of your marketing. So if you aren't doing something relentlessly consistent, it's not going to succeed, so it just isn't worth doing at all.

The other things on your list are bound to be a little more difficult. If you take an honest look at them and realize there are things that do totally annoy you, but you do them all the time and they are actually helping grow your business, your only choice is to fix those things. You cannot afford to get rid of them. This is most likely where a marketing firm will come in. Find someone to fix the problem, making it easier for that thing to regularly happen, and ensuring that your business will continue to benefit from that initiative or platform.

3. What activities should have been outsourced from the beginning?

This kind of relates to my tip above for finding a marketing firm that can help you with some of your marketing initiatives. The fact is that you are a real estate agent. Your time is best spent nurturing leads, serving clients and making sure you are selling your listings and the transactions are going smoothly. You DO NOT need to spend your time figuring out how to be a web designer, digital marketer, or postcard farming master.

The trick here is to find the things that do not fit in the "daily job description" of being a Realtor and outsource them.

Okay, I've done that. Now what?

So once you've performed this exercise, you'll undoubtedly find that there are fewer things that you have to do on a daily basis. This will allow you to focus specifically on those actions and initiatives that make you the most money, ensuring the growth of your real estate practice.

To view the original article, visit the Leading Agent blog.