Whether you have been in the business 70 days or 7 years, I often hear the same questions:
- What do I do now?
- My lead generation is inconsistent!
- How do I get better organized?
- What’s my purpose?
So, here are a few suggestions to consider as you start this week:
First, who do you want to be 90 days from now?
It all starts with deciding what you want to achieve in the next three months. Have you created very clear, specific, measurable, and trackable goals? Are they up and visual as a constant reminder?
My research shows there are three types of goals:
- Outcome goals – I want to be #1
- Performance goals – I’ll run the race in 8 minutes or less
- Process goals – I’ll connect with 10 people a day
Process goals win the day. Over 650 studies in goal achievement show that people who break their goals down to a daily process achieve the goal faster and more consistently.
Action #1: Break your goals down to daily actions
Second, understand where the business comes from.
The National Association of REALTORS® conducted a survey that shows nearly 70% of consumers FIND you from a friend, family, referral or past business relationship. And nearly 70% CHOOSE you based on your perceived reputation, trustworthiness and results. These facts have significant implications for your personal branding and direct response marketing activities.
It’s shocking how many clients I have acquired through the years — just because I made a call or sent a message.
According to Marketing Metrics, the probability of selling to a new prospect is only 5 to 20 percent, but the likelihood of selling to an existing client is 60 to 70 percent. It’s much cheaper and easier to retain a client than to go prospecting for a new one. Studies show 90% of consumers would do business again with their REALTOR® yet only 25% do. Why? Because you suck – no systems in place – at staying in touch and building long term relationships with past clients.
Action #2: Stay in touch at least 4X per year, build relationships and the sales & referrals will follow.
Third, track everything in a database to stay organized
Make it a habit to get contact information from every person you meet. Your goal is to move folks you meet from your outer circle to your inner circle. Create a system – like this.
If you are buying a new car, get the salesperson’s card. Ask your bartender or server for their information when you go out. Every person who gives you their contact information should be placed into your database and contacted – a note; text; card; social media engagement – least 8 times in the first 8 weeks of meeting. This can be as simple as an excel spreadsheet. It should include the following
- Full name
- Email address
- Mobile phone number
- Preferred social media handles
- Your Notes
In your notes section, you will want to write in things like what the potential client is interested in, first and last time you corresponded with them and how you met them. Relationships matter and relationships create referrals in a personal service business like real estate sales.
Action #3: Take one step to get better organized
Fourth, be like Fred.
Fred Shea was a postal carrier from my home state of Colorado. Apart from the fact that he personally welcomed every new resident, he appeared unremarkable. Yet, a book has been written about him and thousands have been taught his “system” to drive purpose in their life and their business.
Fred had a purpose.
Fred demonstrated you don’t need a promotion; you don’t need anything but creativity to reinvent yourself and add value to yourself and others.
Fred the Postman was quite remarkable in attitude with a warmth and sincerity that was apparent immediately. And his dedication to serving his customers made him extraordinary.
Daily Fred put into practice the principles that became the foundation for the best-selling book, The Fred Factor, namely that:
- Everyone makes a difference,
- Success is built on relationships,
- You must create value for others, and;
- Reinvent yourself on a regular basis.
Fred the Postman taught me that by bringing passion into our work and life we can all turn the ordinary into the extraordinary.
Action #4: Be like Fred!
As we wrap up, I have no control over what you do with this information – nor do I want that control. Yet the gift of what I shared today, has helped me in so many ways, and I trust this gift will help you too. So, until we meet again may your choices reflect your hopes, not your fears.
Bonus Action #5: Accountability… who is your accountability partner?
The real estate industry is always transforming. With the development of new technologies, real estate professionals are adopting tools that provide competitive advantages in serving today’s consumers at the highest level.
In Texas, as physical open houses are now lifted from quarantine, I’m being asked: “should I continue my HOSTED virtual open houses?” Answer:
A recent study from the National Association of Realtors showed that 92% of buyers use the internet to begin their house hunting quest, driving home the vital need for real estate professionals to have an active online presence. If you’re not active, engaging, and networking online, then you’re missing out for you and your clients.
A new standard has been set. Today’s sophisticated seller will select those agents offering both. HOSTED virtual open houses leveraging Facebook, Instagram, or YouTube will extend your reach and pull in more potential buyers. It also saves the modern-day consumer time. Schedule your hosted virtual open house just like a physical one:
- Select the date and time (with virtual, you can A/B test some non-traditional times.)
- Create the event – dark post, for instance – on Facebook.
- Invite the neighbors and your prospects
- Host the event LIVE or as a GUIDED virtual tour – with you as the guide, of course!
JPAR agents are equipped and have the skills to deliver innovative marketing and expanded reach in today’s market.
“We must embrace all means to help buyers and sellers feel confident and secure.”
What other innovative marketing does the JPAR real estate professional have at their fingertips? Consider – among many others – just these three:
→ KvCore Property Boost- cost-effective and produces rapid results
→ Dark Post Facebook, Insta, LinkedIn, or Twitter ads: using squeeze page from kvCore.
→ Leveraging a listing farm with REMINE and Buyside™ is more cost-effective than direct mail and produces faster results.
The famous Peter Drucker said it well: “because the purpose of business is to create a customer, the business enterprise has two – and only two – basic functions; marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.”
As a real estate professional, your marketing defines and communicates you and your brand. So my challenge today is, how’s your marketing? A few things to consider:
- Is it easy to contact you and your real estate practice?
- Is it easy to schedule an appointment?
- Are you set for social? How many platforms and why or why not… consumer-based!
- Pinterest Boards
- Google – My Business Page
- A hyper-local content strategy
- YouTube Channel featuring local businesses, amenities, and events
- Seminars: first time buyers; investors, 1031 exchange
- Go to team
- Professional photography and tours
- Clean up and fix up team
- Tracking and measuring all of your efforts for effectiveness
- HomeActions Newsletter powered with predictive AI
- Nurture campaigns
- Handwritten notes
- Gift baskets
- The post-closing relationship for life?
- Do they know you care?
If you’re looking to up your innovation and marketing game – join us – it’s easy. www.jparrready.com
JP & Associates REALTORS® (JPAR) announced a joint mortgage venture with fintech startup Avenu and its IntroLend platform.
Introlend is an app that allows the consumer to receive mortgage offers from their different sources, including a wholesale lender that works with the company. JPAR is creating its own limited liability corporation to launch its own branded platform, where agents can buy into owning a piece of the platform.
Agents make money off of the success of the company because they become owners. This means they won’t be violating the Real Estate Settlement Procedures Act (RESPA), according to Geoff Lewis, the president of Vesuvius Holdings, the parent company of JPAR. Agents won’t be directly steering a consumer to a specific lender in exchange for a kickback fee. They are presenting the consumer with mortgage offers from three different lenders and can even recommend lenders they have a previous relationship with for inclusion in the app.
“They’re not directly receiving dividends based on the deals they actually refer to the mortgage entity,” Lewis said. “If they have a lender they like working with, a loan officer that’s their favorite, they can invite that loan officer to participate in IntroLend.”
Participation is currently available to JPAR agents in Texas on the corporate and franchise side, but the company is working on getting licensed in more states.
Participation is open to agents that have been with JPAR for at least one year. Each unit is priced at $500 and escalates based on the length of time with JPAR. If you’ve been with JPAR for one year, you can buy-in at up to $1000, 2 years-$5000, three years-$10,000, and four years-$20,000. These levels are the maximum that can be invested.
The venture is expected to scale quickly and provide a nice return for agents.
“One of the things that we’ve said all along is that we’re a next-generation brokerage,” Lewis said. “We’re innovative, cutting edge and agent-centric with our 100 percent commission, transaction fee model.”
The launch of IntroLend is another service in addition to iBuyer, an amazing tech platform, and the agent healthcare offerings and will allow JPAR to continue the massive growth it is seeing in the space.
“This is just another innovation that shows we’re focused on being agent-centric and we believe this will be very important in recruiting and retaining agents,” Lewis added.
Allowing agents to buy into ownership of the mortgage company is the thing that makes this program unique from other IntroLend platform partners.
About JP & Associates REALTORS®
At JP & Associates REALTORS® we’ve built a company that focuses on putting agents first. Opening in 2011, JPAR is taking the real estate industry by storm and earning accolades such as Top 10 Hottest Franchise (according to Inc.), a three-time Inc. 5000 honoree (2019: #1004), and the Fastest Growing 100% Commission Brokerage and Franchise in the USA (according to Real Trends 500). Since offering franchise services in 2018, JPAR has expanded to 8 states in addition to the brokerage in Texas.
JPAR operates multiple offices across Texas, Louisiana, South Carolina, North Carolina, Georgia, Arizona, New Mexico, and Florida, is expanding nationwide, and offers franchising opportunities for entrepreneurial real estate professionals.
To learn more about becoming an agent or franchising visit http://www.jpar.com.
Consumers will be loyal to brands that deliver what they need – dependability, service, exceptional service or exceptional value. When a brand consistently meets a need, it becomes a brand promise and becomes the company’s identity. FedEx for example, the brand promise is “when it absolutely positively has to be there overnight.” FedEx consistently delivers on their promise, which creates a powerful association, bond of trust and loyalty with consumers. As the CEO of your own real estate practice YOU are and critical extension of the JPAR brand.
The financial stakes of a transaction have a commensurate effect on brand loyalty. Consumers have far less to lose by trying another brand of candy than they do another brand of a real estate agent or lender. As a service professional, you are the brand, which you enhance and solidify each time you meet and exceed your clients’ expectations. If you have locked in your clients’ trust (and their willingness to refer you) through brand loyalty, you have a massive advantage over your competition.
How do you achieve brand loyalty? Consistently deliver your brand promise, and do it better than your competitors. Sporadic high performance will not cut it — EVERY customer must have the same great experience. Instead of chasing the next technology tool or widget, think about your service delivery. Rate your service delivery on a scale of 1 (low) to 10 (high). What will it take to be a 10?
Knowing your customers’ anxiety points is critical to achieving a strong brand promise. After all, consumers want brands that meet their needs, but not if the experience is painful.
Action – what action can you take?
Ask your customers this week what worries them most about the transaction. Then let them know what you will do to address their concerns. That’s one solid way to build brand trust and loyalty.
Our Promise – at JPAR is to – exceed expectations. Personal Representation, Powerful Resources, Proven Results. Delivering on that promise has helped us become the #1 independently owned and operated brand in Texas and soon to the USA.