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3 steps to starting down the right path as a new Realtor

While every new Realtor is versed in law and rules, the practice of business is not always a well taught concept.

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brand new realtor

Well versed in rules, but what about business?

When you get your real estate license, there’s often little or no training on sales and marketing approaches and techniques. You may be well versed in all the real estate rules and regulations but when it comes to starting your business on the right track, you may feel a bit lost.

In this article, I’ll share three steps new Realtors need to take on their journey down the road to real estate sales success.

Step one: get organized

As you begin gathering contact information of real estate leads, you need to make sure you store this data in one consolidated place. It’s essential to have a system to remind yourself of important appointments and commitments, or to make a phone call or send an email. Keep a task list and calendar and plan what you’ll be doing every day or week. Each morning, check your calendar and task list, and your appointments for the day, so you know what’s on your radar and how to schedule your time.

Here’s a good tip: as you meet more and more people and add them to your database, try to learn about hobbies, interests, pets, job, etc. and add this information into your database as well. It’s important to get phone numbers and email addresses, but try to go deeper than that. Why? So you can build stronger relationships. So the next time you call up Bob, you can ask him about that new fishing rod or how his tennis tournament went. After all, real estate sales is a people business.

Step two: grow your network and expand your sphere of influence (SOI)

When you’re starting out, you need to grow your sphere of influence (SOI) and expand your network. You can do this through planning various events such as home expert seminars and through an assortment of real estate prospecting techniques such as cold calling. A home expert seminar is when you invite a “home expert” such as an Interior Designer, to come and talk to a group of people you’ve invited. This expert will share tips and ideas that people will find helpful. Each one of the people who take you up on your invitation and attend this seminar is a lead to add to your database!

If you’re changing careers, and are coming into real estate from another profession, you likely already have a substantial amount of people who know you and vice-versa. Make the most of the relationships that you have. Send these people an email letting them know you’re now in real estate. Start sending them your monthly e-Newsletter so you can keep in touch and so they won’t forget that you’re an agent. Remember, the most successful Realtors get most of their business from referrals and repeat business. They don’t cold call and focus on real estate prospecting all day. In order to build a referral and repeat business, relationship-building and keeping in touch with your SOI needs to be in the forefront.

Step three: build your book of business

As discussed earlier in this article, there are a number of ways to grow your SOI and professional network. But you need to know how to make the most of your leads and maximize the chances that they turn into a client.

If you’re prospecting and marketing effectively, you’re going to get leads. Now, not all of these leads will be great so you need to know the right questions to ask to weed out the hot leads from the cold ones. Some leads will be good but may not be ready to buy or sell right away. Let’s say you get a new lead who seems interested. But you never hear back from him, even after following up on the phone. A good Realtor wouldn’t forget about this lead just yet. Make sure you set all your leads up on drip email campaigns.

Effective drip emails campaigns will consist of a series of emails designed to convert different types of leads into clients. When the lead is ready to buy or sell, you’re maximizing the chance that they choose you. Of course, whether a lead uses your services versus a competitor depends on a number of different factors (your listing presentation, for instance), but drip email campaigns will definitely help move the ball in your court.

A real estate contact management system is the foundation to all three of the steps discussed in this article. It’s how you’ll organize and manage your contacts and schedule, plan your events and keep in touch activities, and send out your e-Newsletter and drip email campaigns. Sometimes, there are special offers for new real estate agents, like six months free where I work (IXACT Contact), or benefits through local and national associations. These are usually great offers that are specially reserved for new Realtors, so it’s important to take advantage. You’ll save a lot of money and get started on the right track!

Matthew Collis is part of the Sales and Marketing Team at IXACT Contact Solutions Inc., a leading North American real estate CRM firm. In addition to overseeing many of IXACT Contact’s key sales and marketing programs, Matthew works with REALTORS® to help them achieve their real estate goals through effective contact management and relationship marketing. IXACT Contact is a web-based real estate contact management and marketing system that helps REALTORS® better manage and grow their business. The system includes powerful email marketing capabilities and a professionally designed and written monthly e-Newsletter.

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1 Comment

1 Comment

  1. C21MaryR

    July 13, 2012 at 6:18 pm

    @CENTURY21 We’ve fought in court: “Realtor”.

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Business News

How remote work has changed over the last decade

(BUSINESS NEWS) let’s reflect on how remote working and telecommuting has changed in recent years and look to how it will continue to change in the 2020s.

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As someone who often works remote, it’s interesting to see how much that means for work has evolved. The increase in commonality has been steady, and shows no signs of slowing down. Go Remotely has developed an insightful graphic showing the changes in trends regarding remote work over the years.

“For decades, the established economy dictated that you should pick one job, visit the same office for the next 40 years, and then retire,” reads the graphic’s intro. “However, recent remote working stats suggest the working world might be in for some revolutionary changes.”

From there, the graphic is broken down into five facets: Flexible Workspace Policy, Entrepreneurial Minds, Telecommuting is a Growing Trend, The Role of Companies in the Remote Working World, and The Future of Telecommuting.

With Flexible Workspace Policy, its suggested that telecommuting could be a solution for costly issues including lack of productivity caused by employee distractions, health problems, etc. It is said that employers lose $1.8 trillion annually due to these issues.

The end of 2018 found 35 percent of the US workforce working remotely. This is only expected to climb. Ten percent of employees don’t know if their company offers flexible work policies (this is something to check into!)

Bills and laws for virtual jobs passed by governments reflect the need for accessibility, economic stability, and emigration concerns. Companies with flexible work policies have reported seeing increases in productivity and profits. (Funny those both start with pro, no?)

With Entrepreneurial Minds, a few interesting things found include: remote workers are less likely to take off if they are sick, the majority reports better productivity when working alone, the majority reported lower stress levels. However, there is a problem with not being able to unplug after work which is an issue for some.

Telecommuting is a Growing Trend finds that there has been a seven percent increase between 2012 and 2016, with the majority (80-100 percent) reporting they work remotely. Industries seen embracing remote work include: transportation, computer/information systems/mathematical, arts/design/entertainment/sports/media, finance/insurance/real estate, law or public policy, community/social services, science/engineering/architecture, manufacturing or construction, healthcare, education/training/library, and retail.

The Role of Companies in the Remote Working World finds that the pros to hiring remote workers includes: finding talent outside of your geographic area, improves retention on work/life balance, increases productivity by decreasing commute time, and saves money by requiring less office space. The cons include lack of timeliness when it comes to receiving information from employers.

Finally, the Future of Telecommuting suggests that in 2020 the US mobile worker population will surpass 105 million (and will account for 72 percent of the US workforce). Hiring managers predict that telecommuting will increase tremendously, most skills will become even more niche over the next decade, and many think that 38 percent of their full-time workers will be working remotely in the next decade.

How do you feel about the increase in remote working and telecommuting?

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Business News

ClickUp team productivity app is gorgeous and wildly efficient

(BUSINESS NEWS) Seeking to improve your productivity and speed up your team, ClickUp is an inexpensive option for those obsessed with efficiency.

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Back again to obsess over productivity apps – ClickUp, is a project management tool seeking to knock the frustration out of PM. It’s getting some good reviews, so I gave it a try for a week by setting up my current job search as a project and getting a feel for the app. And as you’ve read in my other reviews, we will address features and design.

On the feature front, ClickUp offers a pretty standard set up of tools for a productivity app. What stands out first and foremost are the status options. In general, most productivity statuses are simple: not started, started, in progress, done, etc.

But ClickUp lets you set up custom statuses that match your workflow.

For example, if you’re doing instructional design projects, you may assign projects based on where they are flowing in an ADDIE model, or if you are a Realtor, you may have things cataloged by sold, in negotiation, etc.

Customization is king and custom status is the closest you get to building your own app. And if you like it simple, you don’t have to customize it. The assigned comments feature lets you follow up on specific comments that originate action items – which is useful in team collaborations.

You can also assign changes to multiple tasks at once, including changing statuses (I would bulk assign completion tasks when I finished applications that I did in batches). There a lot of features here, but the best feature is how the app allows you to toggle on and off features that you will or won’t use – once again, customization is front and center for this platform.

In terms of design and intuive use, ClickUp nailed it.

It’s super easy to use, and the concept of space is pretty standard in design thinking. If your organization uses Agile methodology, this app is ready for you.

In terms of view, you can declutter the features, but the three viewing modes (list, box, and board) can help you filter the information and make decisions quickly depending on what role you have on a board or project. There is also a “Me” board that removes all the clutter and focuses on your tasks – a great way to do focused productivity bursts. ClickUp describes itself as beautifully intuitive, and I can’t disagree – both the web app and mobile app are insanely easy to use.

No complaints here.

And the horizon looks good for ClickUp – with new features like image markup, Gannt charts (!!!!!! #nerdalert), and threaded comments for starts.

This application is great, and it’s got a lot of growth coming up to an already rich feature base. It’s free with 100MB of storage, but the $5 fee for team member per month that includes team onboarding and set up (say you’re switching from another platform) and Dropbox/Google Docs integration? That’s a bargain, Charlie.

ClickUp is on the way up and it’s got it all – features, a beautifully accessible UI, relentless customization, and lot of new and upcoming features. If you’re into the productivity platform and you’re looking for a new solution for your team, go check it out.

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Business News

Should you alter your business travel due to the Coronavirus?

(BUSINESS NEWS) Got a business trip coming up? Worried about the coronavirus spoiling those plans? Stay up to date and safe with this cool site!

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The Center for Systems Science and Engineering (CSSE) at John Hopkins University has created a website that tracks one of the biggest trends of 2020: the coronavirus. Also known as 2019-nCoV, this disease has already spread to over 40,000 confirmed cases worldwide, with over 900 deaths (as of when this article was published, anyway.)

Not to mention, the United States Center for Disease Control and Prevention (CDC) notes that we still don’t know exactly how the virus spreads from person-to-person. In fact, there’s quite a bit we don’t know about this disease and although some people are reported as recovered, it’s only a small fraction compared to how many are sick.

So, what’s so great about this tracker? Well, first of all, it updates in real time, making it easy to keep track of everything we know about confirmed cases of the coronavirus. It’s chock full of statistics and visuals, making the information easy to digest. Plus, with a map front and center, it lets you know exactly where there have been reported outbreaks – and how many people have been diagnosed.

Because the site sticks to cold hard facts like statistics and maps, it also means you can avoid the racism and general panic that’s accompanied news of this outbreak.

This is a great tool for staying informed, but it’s also extremely helpful if you’re going to be traveling for work. As the virus continues to progress, you’ll be able to see just how many cases of coronavirus there are in the areas you’re planning to visit, which will allow you to plan accordingly. Even if you don’t feel the effects, you can still risk passing it to other people.

(In fact, the CDC recommends those traveling from certain areas in China practice “social distancing” when they return to the US, avoiding public spaces like grocery stores, malls and movie theaters.)

Of course, if you have something planned several months from now, don’t cancel your conference plans just yet. A lot can happen in that amount of time, so avoid the urge to check the website every couple hours. It’s supposed to be a tool for staying informed, not staying stressed out.

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