Back to Basics for Real Estate Success

You’ll find a lot of advice, or often “hacks” that the experts say will guarantee success in the real estate business. Perhaps. But when you get down to it, it’s sticking to the fundamentals that drives your business. Here are a few to consider:

• Stick to a schedule. Daily prospecting is the key to achieving your goals. Focus on expired and FSBO “now opportunities” as the best source for consistent revenue. Importantly, honor your time for daily prospecting.
• Commit to daily role-playing: The best way to keep fresh and focused is to start each day with a trusted, role-playing partner. Get comfortable with your objection scripts in particular. Role-playing helps keep you head in the game, and build your confidence prior to prospecting.
• Listen carefully: It’s difficult to be a top performing sales person if you don’t know how to listen to homeowners. You need to understand their motivation to sell. You need to listen for the cues that tell you it’s time to apply for the job of being their partner.
• Grow your database. Not every person you talk to is a “now opportunity.” But they may be at some point. Do whatever you can to meet people and capture their email or phone number. Let them know you just want to stay in touch, as with the following script: "We'd like to keep you updated on what's happening in your market and neighborhood -- what's your best email address?"
• Leverage expired. About 40% of expired listing homeowners re-list with a new agent within 30 days. Be persistent in proving your interest in selling their home, and your willingness to be their partner. And don’t forget older expireds, the listings that many agents dismiss, but that are often like gold.
• Engage FSBOs. Yes, 90% of FSBOs fail to sell on their own, and will list with a real estate professional within a month. FSBOs are most interested in their bottom line proceeds, so when the time is right, show them data to prove that agent-represented transactions sell faster, at a higher rate and at a higher price.
• Set high goals. Success in real estate is often determined by having clear, concise and realistic goas. Study what’s worked in the past. Be consistent. And, if your pipeline is full today, that’s your cue to keep prospecting. Make sure you ask for referrals. Know your goals and what needs to happen to achieve them.

Success in any endeavor, but especially real estate, is about sticking to the basics, day in and day out. The good news FOR YOU, is that the vast majority of agents don’t stick to a proven plan, which leaves the door open for a focused, goal-oriented agent to step in and win the day.