By Julie Escobar
Caught up with my friend and dynamo speaker Judy LaDeur to find out just some of what is making her new talk, How to Successfully Sell or Acquire a Thriving Real Estate Business, is getting so much attention worldwide. What we came away with are some very valuable tips and scripts for competing in any market AND creating a salable book of business. Share these with your agents — and even consider a round-table discussion to light a fire under agents who need to get on track and stay there!
Q: Judy – we’ve both seen way too many agents leave this business after years and years of hard work with not much to show for it. The bottom line reason? They spent too much time chasing new business and not enough time building their base. What are your thoughts?
A: You’re right Julie. One of the first things I tell agents is this: “If your business is not currently set up in a contact database management program, then the answer is probably NO. To leverage your business and take advantage of this particular program (and have the ability to sell your real estate business at some point in the future) – that is the first thing you must do. The program you select should have the ability to set up several categories and to place your clients into more than one category. The more categories you have, the more valuable your business will be.
The more people that you know and that you add to your base, the more valuable your business is when you decide to retire, relocate or leave the business for any reason. With regard to your database while you are still selling real estate, the more names you have, the more successful you should be if you work the system properly. This is a relationship business, and your job is to build and maintain relationships on a daily basis. Your best sources of business in any market are the people you know.
A recent survey showed that 87% of people surveyed reported that they definitely would usetheir agent again, but didn’t because they can’t remember who they are or how to find them!” Now ask yourself – is that YOU?
Q: Great advice Judy. And now’s the perfect time to get all of that data into a database. I know that you always tell your coaching clients to delegate what they can, and inputting data would be a perfect job for one of the many college kids out of school right now-right? How often do you recommend agents stay in touch with their sphere and farm?
A: I’m still a firm believer in direct mail and layering your marketing. (Postcards, newsletters, email, handwritten notes.) I tell agents to stay in touch 12 times per year with something of value in writing! Something tangible in their hands each month as well as actively engaging folks on your social media as well as personal contact is a winning formula!
12 Times per year send:
- Newsletters that tell of your success and results with homeowner tips
- Social Media postings (and ways for them to find you on social media)
- Just Listed/ Just Sold postcards to your entire database
- Send information on the real estate market in general – neighborhood update postcards are great for this
See your past clients and sphere of influence at least twice per year.
- Stop by and visit when you are in the area
- Client parties 1-2 times per year
- Schedule lunch with clients who are great for referrals and encourage them to invite a friend to join you
Send personal notes 4 times per year.
- An update on the value of their home
- A thank you note for a referral
- Thanks for listing or buying your home with me
- Just writing to say hi and to see if you have anyone who could use my services
Talk to your clients at least 3 times per year. Here is a sample script to stay in touch with your clients.
Hi…this is (name) with (company). I hope you and your family are well. Do you have minute to talk?
Many people are curious about today’s real estate market. I was wondering if I could help you with any real estate questions you might have at this time?
Are you curious about the value of your home or perhaps you might have some questions with regard to what is going on in your neighborhood pertaining to market times, prices, etc.?
Are you looking to sell your home sometime this year?
As you know… I want to be your resource for everything real estate related. Please call me if you ever have any questions.
Hi (name)…my business is based on referrals from great clients (friends, people) like you. So before I go, can you think of anyone you know who might want to buy or sell a home now or in the near future?
I appreciate your help and if anyone should come to mind please don’t hesitate to call me! Thank you!
Q: Great stuff Judy – and agents always love scripts! We appreciate it! What else should agents know to solidify their success in this competitive market?
A: I would tell them to remember the 10% rule. 10% of the number of people in your base of business will give you business or refer business to you every year if you ask for it. So, for a base of 500 people that would be 50 sales/referrals each year. Treat your past clients and centers of influence with respect because they are an asset that will allow your business to grow, and more importantly, will increase the value of your business when it is time to sell it!
Thank you so much Judy! We are on the same page! We always share the 3-7-27 rule of marketing with agents. It takes 3 contacts for folks to remember your name, 7 to put your name with your business, and 27 to brand yourself in their minds. Most agents stop making contact after 2 ‘touches’ — most transactions happen after 5! There’s no time like the present to work ON your business not just in it!
Want to learn more about Judy’s hot topic, How to Successfully Sell or Acquire a Thriving Real Estate Business? Visit her site today at www.judyladeur.com!