Real Estate Agents… Learn How to Develop a Real Estate Client Base
Are you a newly licensed real estate agent or thinking of a real estate career? ProSchools recommends that you start developing your client base right away. Create a list of everyone you know, this is known as your sphere. After creating your sphere list, you will progress into other avenues of generating your real estate business as described below.
Sphere
Every real estate broker creates a sphere list of their friends, family, neighbors, co-workers and anyone they can think of. This list should include names, phone numbers, addresses and emails. Put your sphere in a database program like Outlook or ACT! By using a database, you can track and schedule activities and keep notes. It is wise to develop a sphere list before getting licensed, but it is never too late to start.
Once a sphere list is developed, you can send information to your sphere announcing you will be licensed soon and ask for future business. Once licensed, you can let them know you are ready to conduct business and ask for immediate business and referrals. You will want to keep in contact with your sphere on a regular basis so they will begin to think of you when they think of real estate.
Referrals
Successful real estate businesses are built on client referrals. You need to provide excellent service, demonstrate your expertise, keep in contact and make your sales calls to your sphere asking for referrals. You want to stay in the minds of your sphere when they think of real estate or hear of someone looking to buy or sell. By asking for referrals, you will grow your client base year after year, sale after sale.
Direct Mailing
You will want to select a neighborhood or area to “farm” for direct marketing. You may select by zip code, neighborhood, school district or other means of defining a particular area. Your local title company should be able to assist you in developing a farm. You will need to create a marketing campaign and send marketing materials by direct mail. You will need to create marketing materials, usually flyers or post cards, and schedule a marketing campaign to go out on a regular basis. You will need to keep your marketing materials fresh and updated.
Expired Listings and FSBOs
Many real estate agents call on expired listings and FSBOs (For Sale by Owners) to try to get listings. An agent must have good telemarketing skills and demonstrate why the homeowner should hire him over other agents who are calling. Some agents will drive to neighborhoods and talk with a FSBO homeowner face-to-face. There is a lot of competition in prospecting these types of leads. The more you practice, the better you will get.
Open Houses
A great way for newer agents to get buyer leads is to hold open houses for listing agents. Many experienced listing agents are too busy to hold their own open houses and offer this opportunity to new agents. This is a great opportunity to get in front of potential buyers. Although most buyers do not buy a home through an open house, it is a great way to meet buyers and convince them to hire you to assist them in buying a home.
Floor Time
Ask your managing broker for floor time in your office. This is a good opportunity to get office call-in leads and walk-in leads. If you are able to turn a lead into a sale, that client becomes yours to put in your customer database and continue to prospect the client for referrals and future business. If they do not buy or sell now, you can keep in contact with them for when they are ready and still ask for referrals.
Social Media
Establishing a presence on Facebook, Twitter and LinkedIn are essential tools for building a social network and getting your presence on the web. You can join national real estate groups and be linked to professionals in the mortgage and real estate industry across the nation.
Website
You should create an agent website. Most large companies offer agent websites connected with the main company site and offer added features. If you are with a smaller company, you might need to create a website on your own. Many experienced agents prefer to have their own website custom made to make them stand out.
Blog
Your clients will want to know what is going in their local real estate market. Posting a blog is a great way to get information out and maintain a professional image. Using your social media presence, you will need to find ways to drive traffic to your blog. Make announcements on Facebook, Twitter, and LinkedIn about a new article and send emails to your sphere. Make sure to directly link your blog to your website and social networks. You should post fresh content at least once a week.
Print Advertising
A more traditional way of advertising your services is through print advertising. Placing an ad in the local paper or a real estate magazine is more expensive then online networking and will take much longer to see a return on your investment. Many real estate companies or experienced agents will use print advertising to advertise their listings and try to get buyers.
Internet Advertising
You may choose to advertise with a real estate Internet advertising website. There are several great websites that offer a range of products and prices. One website offers FREE advertising; www.MyProMatch.com offers free and low cost advertising and includes full-page web profiles with links to your website, Facebook, Twitter and LinkedIn, upload customer testimonials and submit blogs to get extra exposure. This is a great way for new agents to get Internet exposure with little investment.
You may want to select all of these methods of marketing your business or just a few, it is up to you. However, any successful business person will tell you that your marketing dollars is directly related to your business success and growth. You must invest in your business if you want it to succeed.
If you are just getting your real estate license and haven’t selected a real estate company to work for yet, be sure to call ProSchools and get dates for our upcoming Broker Fairs. Call us at 800-452-4879.