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4 Ways to Dominate Your Market

October 04 2022

stand out of the crowdYou're ready to own your market, stay ahead of your competitors, and become a top-producing real estate team dominating the local market share.

If the goal is clear, the road to achieving that goal can be hard to imagine... until these essential tips come into the picture.

Let's look at fresh and timely strategies that your real estate team can leverage to help you climb to the top of your market.

1. Leverage technology in the right ways

Not all technology adoption may be the right choice for your business. Nowadays, there is so much PropTech out there — but what your team needs is the right tech tools.

As a best practice, you should strive to leverage technology in the right ways that create tangible and trackable value. Think automated nurture marketing, eAlerts, and the generation of meaningful insights.

On the other hand, you might want to rethink the deployment of technology in areas that could negatively impact the experience that your clients have when engaging with your business.

For example, speed-to-lead is crucial, but no one wants to talk to bots. Instead, it's ideal to have real humans who are seasoned marketing experts communicating with your precious customers.

Being specific about what, how, and when you are using your technology can help you retain a people-centric, value-driven real estate brand culture.

2. Build an accountability process

Pop quiz!

  • Are you and your team actually achieving what you set out to do?
  • Are there areas of your workflow that fall through the cracks?
  • Are you measuring your progress towards concrete production goals?

If you answered these questions and realized that you're not capitalizing on a clear, goal-oriented strategy, it's a sign that you need an accountability process.

All of the top entrepreneurs have accountability practices. Accountability is all about blending the big picture and the immediate moment to create consistent progress toward a goal.

Accountability begins with setting realistic and achievable goals. Then, that larger goal is broken down into all of the smaller phases and steps that need to be taken in order to achieve that larger goal.

Let's say it's your goal to close on 20 transactions in a year. That means your team should be closing five deals per quarter. To close those five deals, you will need to be working a certain number of leads to ensure that five of them will convert in the future.

Become more accountable and efficient by mapping out the actions your real estate business needs to take, helping guide your day-in-day-out workflow strategy.

  • Pro Tip: Leveraging the right tech can actually help your team become more accountable.

If you have a back-end team portal that is customized to your unique transaction workflow, it can be much easier to keep tabs on what tasks have gotten done, who's responsible, and what has been overlooked.

For example: if your team sends out a closing gift to clients at the end of every transaction, you need to ensure that the gift is being planned and ordered ahead of time.

If this is programmed into your project management portal, the reminder is automatically there. You can tag the team member in charge, they can fulfill the task, and voila! Never miss another gifting opportunity again.

#3. Set consistent life and work routines

Maintaining a strong work-life balance can help you stay motivated, boost creativity, and increase productivity.

You're much more likely to succeed if you're feeling uplifted, secure, and are prioritizing your wellness. When you're unorganized and not taking care of yourself, you're likely to spend more time working but ultimately getting less done.

An effective way to improve your workflow is to create a consistent daily routine. Make time to take care of yourself and your work tasks, helping you fall into the rhythms of a strong daily groove.

  • Pro Tip: Everyone is unique, so the optimum work and life schedule will naturally vary from person to person. Take time to look in and find the process that works best for you. Encourage your team to do the same.

#4. Prospect, prospect, prospect

If you want to beat the competition, one of the most important things that you need to be doing is getting serious about your prospecting.

To boost your market share and access new opportunities, you need to be consistent about reaching out to leads. Investing in your lead generation capacity can help you build up your lead and client database, fueling your sales funnel and allowing you to dominate your market.

To view the original article, visit the BoomTown blog.