Top 5 Questions on REALTORS’ Minds Today
The story goes that Albert Einstein's driver, who often sat at the back of the hall during the professor’s lectures, once said he had heard the lecture so many times, he could give it himself. So at the next stop, Einstein sat in the back and the driver spoke.
After a flawless lecture, a listener posed a difficult question. “Well, the answer to that question is quite simple,” the driver replied. “I bet my driver, sitting in the back there, could answer it.”
Well, let me be the first to admit, I’m no Einstein. But in my travels around the country as a real estate coach, I do hear a few similar questions from brokers and agents that I can answer. I thought I’d spend this article sharing answers to these questions.
1. If I could do one thing to improve my practice, what would be the best thing I could do? Ah, the ‘one thing’ question. First, I strongly believe it takes many strategies and tactics to achieve clear success, but if I had to narrow it down to one action, it would be an efficient lead management system. Far too many leads end up down the drain in real estate today. Invest in a system and database that follows up effectively and quickly with all leads.
2. Are virtual assistants worth hiring? In a word, absolutely. I know Realtors are an independent lot, but the best ones aren’t. They know a team beats an individual every time. And a good assistant is the best place to start. They’re affordable and they free you up to do what you do best -- sell real estate. I have clients who’ve doubled their business simply because they hired an assistant. Click here to read additional information on working with a VA.
3. It’s been a little scary these last couple of years. Do you think the market will get better soon? Yes. Why? Because it always does. Markets, by their very nature, are cyclical. I know when things slow down, nerves fray. But step back and look at the bigger picture. Markets go down and they go up. As for the current market, I’m just one of many who’s saying that because of the ultra-low interest rates and the incentives for first-time home buyers, the market will improve this summer and the rest of 2009. Let go of the fear and attack it with the best attitude you can muster.
4. Can social media and social networking help me? Yes, these new technologies can help Realtors. I’m starting to hear more and more real-life examples of agents and brokers landing regular work via social networking such as Facebook, LinkedIn, blogging, Twitter and many others. My suggestion is to do your homework on these and other tools, and then adopt them into your practice ASAP.
5. How can I consistently grow my business? If you’re like many agents, you’re bottom line reflects the market. A so-so market, a so-so bottom line. Over the years I’ve paid close attention to top producers and what I’ve learned from that is this -- they work their butts off to become experts. They take advantage of every opportunity to learn everything they can about the business, the market and their customers. And then they act on that knowledge. They’re not afraid to fail. And if they do fail, you wouldn’t know it because they’re right back on their feet before you blink an eye. Want to grow your business? Keep learning and become the expert that you are deep inside.
Best of luck to you and yours.
Bob Corcoran is a nationally recognized speaker and author who is founder and president of Corcoran Consulting Inc. (CorcoranCoaching.com, 800-957-8353), an international consulting and coaching company that specializes in performance coaching and the implementation of sound business systems into the residential or commercial broker or agent’s existing practice.
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