Quality over quantity: How to turn your network into a renewable resource

  • It can be more cost-effective to cultivate the contacts already in your database.
  • Conversations with your sphere should focus on their lives and interests, not their homeownership plans.
  • Giving above-and-beyond service will mean you have clients who don't need to be convinced you're worth it.

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

Imagine you're a brand-new real estate agent. You've passed your test, you've found your brokerage and you're ready to get down to the business of selling houses. Now answer this question: Should you spend the bulk of your time cultivating relationships with people already in your network, or should you try to cast as wide a net as possible by buying leads and referrals that don't come with a personal connection? There are more than just two ways to run a real estate business, of course, but this seems to be a conundrum that many agents face on a regular basis: Should I try to get a high quantity or volume of leads -- or should I focus on cultivating fewer leads, but higher-quality and more well-qualified ones? What do consumers want from you? "At first consumers reached out to agents because they just wanted the information -- they wanted to know that 123 Elm Street is for sale and how much is it," noted Alyssa Hellman, head coach at Bamboo Realty. "Now they can find that inf...