Industry News

Courting customers: Who’s coming back, who’s long gone

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

So, as far as I understand it, this real estate game is about getting customers, servicing them, getting paid, and getting more customers. I once prowled around to see how much of my time I should spend getting customers (as opposed to servicing them and getting paid) and I was told "8 hours a week." That assumes I work a 40-hour week, which I don't, but I'm willing to extrapolate it as a rule of thumb that I'm supposed to be spending 20 percent of my work time acquiring customers. I have this sandwiched in my mental guidelines next to "25 percent of your income should be spent on marketing and advertising" -- though I am still trying to figure out whether better clothes are allowed to count towards that 25 percent. Now obviously, one wants to work as efficiently as possible, which is one reason why real estate coaches propound the "circle of influence" theory -- you want to troll for clients among people who already know you, because presuma...