Whether you’re a rookie agent, a rising team leader or an established veteran broker, we can all benefit from sharpening our skills. Follow our “Back to Basics” series to learn fundamental strategies, tactics, philosophies and more from real estate pros across the industry.
It’s April, if you can believe it, but this is no April fool’s post. With the start of April also comes the beginning of the second quarter.
The key to making your business goals in 2019 is making sure you’re on track along the way. To make sure your business is foolproof, ask yourself these five questions, answer honestly, and retool if need be.
1. How much time weekly did you spend finding new business (lead generation)?
If your answer is zero, and you are not on a team, you might experience a business “drought” more often than necessary. Spending consistent time generating quality leads lends to consistent business.
2. How many activities did you weekly do to generate leads?
From our research, top producers usually do at least five lead generation activities consistently (on a weekly basis).
3. How many leads did you generate weekly, and which activities were the most effective?
It typically takes about 10 quality leads per week to reach a gross commission income of $100,000. If your desired income is greater, use multiples of this (for example, to reach $200,000, that is, on average, 20 leads per week).
4. How many follow-up contacts did you make weekly?
Your follow-up can include calls, texts, emails, visits, social media messages, mail and even Morse Code if that is how your database responds. The key is that your database should have responded to the follow-up (sending an unanswered email does not count).
5. In Q2, how will you improve on your lead generation and follow-up weekly based on the above questions?
Challenge yourself for Q2 to weekly do 10-times the activity (particularly that which was most effective) you did in Q1 for each of the above questions. And, if you had zero as an answer to any question, do not let yourself off easy (yes, zero times 10 is still zero) and cheat your success.
Treat all zeros as ones, and start with doing 10 in each of these categories.
Why? For most markets, spring is a very busy time of year for both selling and buying, so your overall 2019 productivity will likely surge if you commit to doing more effective lead generation and follow-up than you normally do.
To understand the importance of doing 10-times more, check out Grant Cardone’s book The 10X Rule.
Lee Davenport is a licensed real estate broker, trainer and coach. Follow her on Facebook, Instagram, YouTube and Google+, or visit her website. This post comes from her book, Profit with Your Personality.