The Benefits of Partnerships for Real Estate Agents
Navigating the intricate world of real estate requires agents to orchestrate a delicate dance between buyers and sellers, all within the cutthroat confines of a fiercely competitive industry. Thriving in this environment demands perpetual innovation and a keen eye for untapped opportunities. One such avenue of potential is the power of partnerships. In this post, we'll delve into the myriad benefits these collaborations can bestow upon real estate agents while spotlighting some compelling instances. Buckle up for a journey through the perks of partnerships! Expanded Network and Exposure Real estate partnerships act as a gateway to an augmented sphere of influence and an extended network of potential clients. Picture this: Two agents or firms joining forces, opening the floodgates to each other's client databases, and catapulting listings into a wider audience. This synergistic approach not only broadens exposure but also unlocks new markets previously beyond reach. Take, for example, the partnership between Berkshire Hathaway Home Services and Nest Seekers International. This collaboration not only facilitated access to luxury listings but also opened doors to diverse clientele, resulting in boosted sales and successful market penetration. Pooling Resources and Skills Sharing resources and expertise emerges as a pivotal advantage of real estate partnerships. The amalgamation of marketing budgets and technological prowess can birth unparalleled efficiency and superior customer service. Consider the collaboration between Boston Logic and William Raveis Real Estate, culminating in a bespoke CRM system streamlining the entire transaction process. This partnership harnessed the collective resources and expertise of both entities, delivering substantial value to agents and customers alike. Fostering Collaboration and Innovation Beyond the realm of shared resources, real estate partnerships catalyze collaboration and innovation. The confluence of ideas and tactics propels the creation of novel products or services, pushing boundaries that a solitary entity might find insurmountable. Look no further than the partnership of Zillow and Realogy. This powerhouse collaboration birthed a platform elevating transparency in home buying. By synergizing Realogy's industry acumen with Zillow's online real estate prowess, the partnership empowered buyers and sellers with unprecedented information and transparency. Elevated Brand Recognition and Authority Partnering with established businesses or agents is a surefire strategy for enhancing industry authority and brand recognition. Collaborating with reputable entities allows agents to leverage existing reputations and networks to fortify their own brand. The alliance between Citi Habitats and the Corcoran Group is a case in point. By capitalizing on each other's strengths, both businesses expanded their market share and recognition. Corcoran agents gained access to Citi Habitats' rental listings and client database, while Citi Habitats agents tapped into Corcoran's technology, marketing tools, and management systems. In summation, real estate partnerships present agents with a cornucopia of advantages, from amplified exposure and network expansion to collaborative innovation. By forging alliances with fellow agents or firms, individuals can share resources and skills, pioneer novel products, elevate brand recognition, and venture into uncharted markets. The examples provided underscore how successful partnerships yield substantial benefits for all involved parties. For real estate agents eyeing business growth, exploring partnerships is not just an option but a strategic imperative. To view the original article, visit the Transactly blog.

From Buyer's Agent to Listing Agent: One Realtor's Story
It's no secret that being a listing agent is potentially more lucrative than being a buyer's agent. You don't have to accompany clients to multiple properties for showings, or submit bids that may be lost to cash offers — and if you have a listing, there's an excellent chance it will sell for asking or above in today's competitive market. But being a listing agent is no walk in the park, especially with fewer homeowners willing to enter the market at all. So how do you transition to working with sellers rather than buyers — and do it successfully? Brandon Watts, a Realtor from Gainesville, Georgia, knows exactly how, and he shared his story in a recent video interview with real estate broker and coach Brandon Mulrenin. Early challenges Watts entered the real estate industry in 2016, and initially focused on buying leads from Realtor.com and Zillow, and "working mainly just a lot of buyer business, running like crazy, all kinds of hours working seven days a week. I mean, I'd get a lead [when] I'd be in the shower — I'd jump out of the shower and call them." Watts then joined a team where he worked mostly Zillow leads, but says he was met with a lack of direction on listing appointments, and struggled to acquire clients and close deals. "I remember going to [my team lead] one time and saying, 'Hey, what do I do for my listing presentation?' and he pretty much didn't have an answer. He was just like, 'You know, hey, if they want to list with us, it's great — or not, that's okay too. Just go to the next one.' And I'm like, 'Wow, okay, I gotta do something different here.'" That's when Watts began shifting his focus. The game plan Watts quit taking online buyer leads and joined a coaching program, which improved his sales and lead communication skills. In the past six months, Watts says that this coaching has resulted in 12 transactions and $78,000 in earnings. So what does achieving this kind of success entail? Watts says he uses Vulcan 7 for prospecting. His primary lead sources are FSBOs and expired listings. The heart of his success, however, is discipline. His lead acquisition strategy includes direct outbound prospecting from 8 AM to 12 PM every day. He averages around seven prospects per hour, totaling 25-30 leads per week. Thanks to consistent effort, Watts no longer needs to buy leads, which also results in increased profit margins. His lead follow-up process is equally regimented. He leans on a folder system to classify leads: nurture (6-12 months), warm (90-120 days), and hot (within the next week or two). He then follows up on hot leads almost daily, warm leads weekly, and nurture leads monthly. To make him stand out in the minds of those leads, he sends them personalized thank-you cards and $1 lottery tickets. Advice from a goal-getter While Watts ended 2023 with 25 closings, generating approximately $150,000, he's aiming even higher for 2024. His goal is to net $300,000 in 2024 via 50 transactions, with a gross target of $416,000. Here are his takeaways for those looking to achieve a similar level of success: Consistency is key: Stay focused and committed to the daily process. Mindset shift: Success takes time and often requires a shift in perspective towards the process. Daily routine: Approach each day with a commitment to the process, rather than worrying about immediate outcomes. Coaching and mentoring: Get a coach or mentor for guidance and structured planning. Related reading How to Turn Your Real Estate Buyers into Seller Leads Tips for Growing the Listing Side of Your Real Estate Business Be a Better Realtor: 36 Tips and Tricks on Productivity, Goal Setting, and Self Improvement

Movin' on Up: 15-Point Checklist for Switching Real Estate Brokerages
Has your current brokerage lost some of its shine? Maybe the commission split is lackluster, or the company doesn't offer the resources you need, or maybe its goals no longer align with your own. Whatever the case, part of career growth is recognizing when you've grown beyond your current situation. But switching brokerages can be an involved process with multiple steps. To make it easier for you to move on to bigger and better things, we've put together this handy checklist of tasks you need to complete when you change real estate firms. Before Switching Review your current contract. Before you make the leap, carefully review your contract with your current brokerage so you don't make a misstep that could cost you. Make note of any clauses related to commissions or notice periods. Collect your contacts and any personal marketing materials. Once you give notice to your current firm, you may find yourself immediately cut off from email and the company's contact database. Before giving notice, export your contacts from your current brokerage's email and CRM systems. Make sure you are compliant with data protection and confidentiality regulations first, however. The Switch Inform your current brokerage of your intention to leave, adhering to the notice period specified in your contract. Transfer your license. Contact your local real estate regulatory authority to transfer your license to the new brokerage. This can be done online in some states. Complete any necessary paperwork and pay the required fees. Notify your MLS and local association that you will be switching your license to another real estate brokerage. Sign a new independent contractor agreement with the brokerage you'll be switching to. Obtain Errors and Omissions (E&O) insurance. Be sure you have the necessary E&O insurance coverage with your new brokerage. This includes understanding coverage details and any associated costs. Steps to Take at Your New Brokerage Set up a new email and agent profile/website. Whether or not you maintain your own, non-brokerage related email and website, you'll likely still need to sign up for an email address at your new company in order to log-in to the firm's systems and programs. If your brokerage offers agent websites and/or profiles, take advantage of that too, even if you already have your own — the more places to market your services, the better! Create logins for all of your new brokerage apps and resources. Attend training and orientation sessions. Set yourself up for success by participating in any training or orientation sessions offered. If these aren't available, set aside time to familiarize yourself with the tools, software, and systems used by the new brokerage. Sign up for training webinars offered by the software vendors your new firm uses. Import your contacts into your new email and CRM system. Remember all those contacts you exported from your old brokerage? Time to set them up in your new apps. Update your marketing materials. Revise your business cards, website, and any marketing materials to reflect your new brokerage affiliation. Bonus points if you decide to get new headshots (hey, this is a great time for rebranding, right?). Order yard signs for all the new listings that are bound to come your way at your new brokerage. Update your mailing address wherever it appears on documents, contracts, agreements, etc. Make sure you also update these items with your brokerage's name and info wherever it's relevant. Inform your clients and contacts. Now that you've got all the fussy administrative tasks out of the way, it's time for the fun stuff. Let your clients and sphere of influence know about your move to the new brokerage. You can do this via direct mail, email, social media, digital ads — or even via phone calls to your top clients. This mini-marketing blitz is a great reason to reach out, start new conversations, and ensure you remain top-of-mind with clients and prospects. Tips to Make Future Transitions Smoother As we mentioned, it's not uncommon for your previous brokerage to cut off access to any email address, website, or CRM system when you give your notice. That's why we recommend purchasing a website domain name to set up your own website and email address rather than relying on brokerage-provided options. Why? Because a website you personally own is under your control and cannot be turned off when you change brokerages. This helps you maintain brand consistency and ensures no important opportunities or messages are lost when switching brokerages. Your website provider can help you set up email, or you can use Google Workspace to manage your business email. Not sure where to get started? Explore website vendors in our Product Directory. Unless your new brokerage requires that you use their CRM, we recommend subscribing to and setting up a CRM that you control. That way, you never have to leave your valuable contacts behind when you change brokerages next. Find a CRM solution in our Product Directory.

Friday Freebie: 5 Checklists to Optimize Your Lead Gen in 2023
We're well into the first month of the year—how's your lead gen plan going? If it needs a little nudge off the starting blocks, or if you just want to audit your processes and tools, nothing makes doing that easier than checklists! Whip your lead gen efforts into quick shape with these five free checklists for optimizing all aspects of your lead generation strategy. Read on to learn more! Download 5 Real Estate Lead Generation Optimization Checklists for 2023, courtesy of Zurple How's your lead gen set-up: are you using effective tools, marketing on the right channels, or tracking the right metrics in order to improve? One thing's for sure: A lead generation strategy has a lot of moving parts! But it doesn't have to be complicated, especially if you know just what to do to make your lead gen strategy the best it can be. That's where this week's Friday Freebie comes in. Use this packet of checklists to streamline multiple aspects of your lead generation strategy. You can use the checklists yourself or share them with an assistant or marketing support personnel. Your free download includes: Lead generation checklist New lead qualification checklist Website SEO checklist Email/CRM checklist Real estate content checklist Become a lean, mean, lead-generating machine in 2023. Download 5 Real Estate Lead Generation Optimization Checklists for 2023 now!

How Team Leaders Can Dominate Their Markets
Over the past three years, the real estate market has been an anomaly. With immense buyer demand hitting the entire U.S. home market, agents didn't have to put in a heavy lift to generate success. Real estate teams didn't have to work as hard to prospect or close the deal because leads were coming in left and right — and everyone wanted to buy a home. As the market begins to regain its balance as we move into 2023, agents are going to have to pick up the slack. Now, real estate teams are going to have to work a lot harder to maintain the same pace of business. To attract the same number of new buyers and land as many closings as before, agents need to bring their best to the table. How Can Team Leaders Help Guide Their Teams and GROW? If you're a real estate team leader, it's likely that your goal isn't just to stay at the same level. You want to grow, beat your competition, and increase your market share. This means that team leaders and brokers have to spend more time with their teams — teaching, training, and supporting accountability best practices. Here are the steps that team leaders can take today to get the upper hand in the changing real estate market. 1. Go Back to Basics Refining your team's most basic success practices is the right place to start as you prepare your agents for the adjustments happening in the housing market. Remember, teamwork is all about communication. It may be helpful for leaders to schedule a meeting with their teams to speak about the market's upcoming changes, what they should be aware of, and what to do to overcome obstacles. Transparently discussing the situation can help ensure that everyone is on the same page as you ramp up your strategy to combat the changing market. Pro Tip: Invest time to review the "click to close" recipe with your team, discussing what the next steps should be to move the deal forward. It doesn't hurt to go over everything and refine your team's group strategy — considering your technologies, business offerings, and best practices. 2. Spend More Time Teaching and Training Leaders have a big role to play in securing the future of their real estate teams. If you want to take your business to the next level and up your presence in the local market, you need to invest time in teaching and training your agents. Now is the time to be a mentor for your agents. Share your experiences, especially any lessons you've learned in similar market environments as what's unfolding today. These insights can be incredibly valuable for agents that are just starting out in their careers and have not seen a market quite like this before. By spending more of your time teaching your agents what you know and training them to innovate and thrive in different market shifts, you're building a longevous success structure for your business. This is like teaching your agents "how to fish," empowering them to do great things on their own for a lifetime. As an experienced leader, always strive to be a north star for your team members. Pro Tip: Accountability plays a huge role here. As the leader, it's your job to hold your team accountable and make sure that everyone is doing what they said they would. Make accountability part of your team culture so that your team can set goals and achieve them — putting all of the insights your sharing as a mentor into practice. 3. Give Your Team the Tools They Need to Succeed As the team leader, you're holding the keys to your team's most important asset — its tech stack. Your team is going to have to refine its strategy, and the right technology access can make sure that everyone is working together smarter, not harder. Perform a technology audit to check for any holes in your current system. Are there any inefficiencies in the way your team uses technology right now? Is your team using each tool enough to justify its cost, or are you paying for software that your team doesn't even use? What technology tools are you happy with? Does your team have to do extra work, like logging in the same information multiple times to connect disparate systems? Does your team need more tech training? Are there new capabilities and updates to your tools that you aren't aware of? Is there a tech tool that you wish you had? Ask yourself these kinds of questions to determine where your team is doing well, and where your tech stack needs to grow to streamline operations. Pro Tip: When looking for any new technology, always look for automation, software compatibility, and a great service team that provides you with the assistance and personalized problem-solving that your business deserves. To view the original article, visit the BoomTown blog.

How to Pivot (Not Panic) in a Market Shift
Right now, everyone is talking about the shifting market and expressing concerns about a possible recession. Well, if we learned anything in the last few years, it's that uncertainty happens. The market is always in flux, and it's up to real estate teams to prepare themselves with best practices and strategies to help them thrive in any market conditions. Remember, pivoting is not about stressing out. It's about rising to the occasion and taking on the challenge at hand. Here are four critical tips that can help you pivot in a market shift without the panic. 1. Know your data Knowledge is a serious source of power during periods of uncertainty surrounding market shifts. You need to know your numbers, not just the headlines. The first step to honing your team's insight into current real estate data is investing time to study the market using trusted industry sources. This can help you understand exactly what's happening, allowing you to see beyond the woes and worries initiated by predictive headlines. If you're tracking the real numbers, you will have a better handle on the situation — informing your immediate strategy, and allowing your team to plan for potential futures as they arise. The second step of data mastery is being able to share what you've learned with your clients. Once you encounter the raw data, it's your responsibility to digest the information and help inform your sphere. Learning how to communicate and decode information for your clients will empower your deal-making strategies to ensure that they succeed in any market conditions. Pro Tip: Keeping Current Matters is a great resource for real estate data! We love their weekly series, "The Deep Dive," on the housing market. 2. Diversify your lead sources All investors know that a resilient portfolio is a diversified one. The same thinking is true for your lead sources that are feeding your sales pipeline. When you get wind of a market shift, it's time to analyze your lead sources and ensure that you have a diversified stream of leads. When you expand the channels that generate leads for your real estate business, you will be less likely to experience "lead droughts" — or periods when your lead gen strategy is not delivering the volume of leads required to power your business. Having multiple lead sources can help soften the blow of a market shift. Even when the momentum slows, you still have enough resources to keep your sales funnel active. On the other hand, if you're relying on a single source of leads and that slows down, you don't have another outlet to lean on. 3. Double down on lead gen When word of a market shift spreads, many businesses reactively cut back on their marketing efforts and reduce their marketing spend. However, this is not what the pros do. Rather than pulling back, many top-producing agents recommend doubling down on lead generation during a market shift. The strategic angle here is that you will be taking advantage of the action taken by all of the other agents who are fearful and hesitant. While they reduce their lead gen, you can capture those leads that they are missing out on. With less competition trying to lock in leads, your business can elevate its visibility in the local market by strengthening your lead gen strategy. 4. Schedule frequent syncs with your team While you have the power to thrive in any market if you are leveraging competitive strategies and keeping up with your data, that doesn't mean that a market shift isn't unnerving. When the markets are changing and you are mapping out your pivoting strategy, it's a great opportunity to make time to communicate with your team about the current situation. Scheduling regular meetings to get everyone together and talking about how the current market conditions are impacting your real estate workflow can connect your team and boost collaboration. This is a great time to share ideas and strategies, as well as openly discuss any of the challenges that individuals on your team may be experiencing. Besides giving team leaders more insight into what their team members are going through, this culture-strengthening strategy can help team members feel secure and supported. It's important to remember that, in some cases, shifts in the market and economy can introduce struggles within the personal lives of team members. It's important that everyone is united during tough times. To view the original article, visit the BoomTown blog.

7 Advanced Strategies to Turbocharge Your Real Estate Business
When it comes to advice on how to grow your real estate business, there's no shortage of suggested strategies and how-tos out there. The problem? A lot of it can be pretty basic. If you've been in real estate for a while, do you really need someone to tell you to "know your target market" or "work on perfecting your sales script"? Of course not. If you're successful, you've had that down for years now. That kind of advice cluttering the internet is more suitable for an agent just starting out. Instead, in this blog, we'll focus on some more advanced strategies for growing your real estate business in the coming year that might not be so obvious—and can give you an extra edge in winning clients and dominating your sphere in 2022. 1. Audit your brand for consistency across digital channels Look, the reality of today's real estate landscape is that word-of-mouth just isn't as important as it used to be. Yes, clients still recommend agents they like to friends and relatives, but now, when search engines like Google make researching on your own so easy, homebuyers and sellers are turning online to vet real estate agents—even if they've received a recommendation from a trusted party. It's not just in real estate either; it's happening in every industry: How often do you Google a restaurant before ordering dinner, even if your colleague swore by it? So, you must ask yourself: what happens if a prospect searches for you? Are you presenting yourself as a trustable, professional agent across all corners of the web? Or does your Facebook profile offer a completely different picture of your competency than your Google business profile? Do you even have a Google business profile? The simple truth is this: Clients have no shortage of real estate agents available to them, so any sort of discrepancy online is only going to give them pause in hiring you. So, why give them an opportunity? Make sure prospects can find you on various platforms; your reviews are consistent from review site to site; your contact information is consistent across profiles; and you're conveying a sense of professionalism at every turn. 2. Invest in the power of content marketing You're probably no stranger to the idea of content marketing, but maybe you don't know how important it is, or maybe you didn't think it was as applicable to the real estate industry as it is in others. But it is, and we'll explain why: As we established, Google is really important for real estate agents in finding clients, as prospects regularly use the search engine to research who they hire. But how do you make sure you appear high enough on a Google results page to make sure these clients see and choose you? Well, Google puts a heavy emphasis on responsiveness—that is businesses who appear active and engaged, not those that throw up a website and passively hope leads find them. And, as you've probably guessed, one of the best ways to demonstrate responsiveness is by the regular posting of worthwhile content. That means listing photos, market research, your thoughts and analysis, etc. So, make sure you're regularly posting content across channels. Pro Tip: Don't forget Google as a channel for your content distribution. While it may not be as obvious as your website, blog or Facebook profile, Google places an incredible amount of value on responsiveness on its platform when it comes to rankings. Makes sense, right? Regularly use Google's products, and Google will shuffle you up the rankings. 3. Modernize your website with prospect-friendly digital tools In the wake of Covid-19, more and more prospects are looking for digitally adept agents—ones that can help them market their property online or host virtual tours and walkthroughs. Even when the pandemic is over, it's likely to stay the reality; innovation rarely goes backward. So, take a good, hard look at your website. Does it convey that you're a modern, up-on-their-tech agent? Or does it look like your nephew hastily threw it together 10 years ago? It goes back to our first tip: conveying a sense of professionalism and expertise wherever a prospect may discover you. But modern isn't just limited to aesthetics. Today, you're much more likely to entice a prospect online if you can offer something for free. It's just the way the world works—after all, you're getting free advice in exchange for visiting this blog. The best agent websites have some sort of give and take. You can offer a free market analysis or home valuation in exchange for a client's email address or phone number. They're much more likely to connect with you if you give them something to make it worth their while. 4. Prioritize reputation management by soliciting and maintaining reviews Yes, reviews are important for your reputation. But that's not what this tip is about. Did you know that the more positive reviews you have, the more likely you are to appear in search rankings? At Homesnap, we looked at the profiles of thousands of agents across the country to try to correlate the number and overall rating of reviews against an agent's search rankings on Google. You can read the full report here on getting more positive reviews here, but here's what we found: Agents with an average review rating of 4.0 or better on Google appear in 350% more Google searches than agents with an average review rating of 0-3. Agents with a 4.0 average review rating on Google received 300% more actions (calls, texts, website views, and direction requests) than those with a review rating of 0-3. The more reviews an agent has, the better they perform in search, views, and actions. The only problem? The impact of positive reviews tends to diminish over time—after about 90 days or so. So, make sure you're always encouraging new positive reviews from clients, friends, family, as well as responding to negative reviews politely and respectfully. 5. Use social media to nurture long-term prospects A lot of real estate agents turn to social media for lead generation, and when they don't find high-intent buyers or sellers after running their first few ads, they're disillusioned with the results. Many (mistakenly) believe social media doesn't work for them. But the simple truth is, it does—if you're patient. Many would-be homebuyers and sellers are at the onset of their real estate journey, poking around on an agent's social media profiles and ads in anticipation of the day they'll be ready to transact. If you pull the ripcord too early and ignore anyone who isn't ready to buy or sell in the next 30 days, you're going to miss valuable opportunities to attract new clients at a later date. Instead, you should consider social media a long-term volume play—in which you capture and nurture a sizable number of potential leads as they grow to be higher intent. That way, when users are ready to buy or sell, you're the agent they're most familiar with—you've been with them the whole time. 6. Leverage the power of video In the weeks following initial social distancing and stay-at-home guidelines, virtual tours and open houses proved both popular and effective. Now, though, as in-person open houses return, some agents have abandoned the tactic, viewing it more as a stopgap than a viable marketing strategy. But, in fact, videos have proven very effective as a marketing tactic, even if they don't lead to direct sales. Virtual tours and open houses provide a more immersive, holistic experience to homebuyers, making it more likely that their initial interest will result in a serious buyer. Additionally, videos are perfectly suited to social media advertising, particularly on Instagram, where video content is more native and less intrusive than on other social networks. Here's a complete guide to real estate marketing on Instagram, including marketing your video content, if you're interested in learning more. 7. Measure your progress against realistic digital benchmarks Growing your real estate business isn't easy and takes time. Do not expect immediate results, even if you follow all these steps. But if you're patient and strategic, you will see significant results in growing your real estate business. To view the original article, visit the Homesnap blog.

Establishing the Infrastructure to Support Scaling Your Real Estate Business
Imagine your client flow doubles overnight. Would your current infrastructure and systems support this influx of new business? Probably not. For the same reason you wouldn't try to fit 100 people into a 10-person boat, your real estate business can't handle that many clients. If your business can't handle an increase in business, the infrastructure and systems need to be upgraded so they have the capacity and infrastructure to manage all the new clients you will generate as you scale your business. In the first two sections of this Scaling Your Real Estate Business series, we've discussed ways to evaluate your real estate business for growth opportunities and strategies to generate funding to finance your scaling venture. Using the tools and guides from these articles, you can calculate the amount of leads, transactions, and budget needed to hit your specified Gross Commission Income (GCI) goals. In this article, we'll share advice on ways to establish a stable infrastructure for your real estate business to support the increase of lead generation, nurturing, and ultimately, the scaling of your business. If you plan for growth, you plan for success. That means establishing the right infrastructure to support your scaling venture for real estate business. Before you start planning, ask yourself these questions: How will I consistently generate enough leads to hit my GCI goal? What systems do I need to support, manage, and track the increase of leads, clients and transactions? Is there technology that can support my business' growth and make processes more efficient? Will I need to hire staff to help me? How will I ensure each client and transaction gets treated with the same focus? Let's go back to the imagination where our client flow doubles overnight. When brainstorming ideas that support your business if it doubles, you must examine and come up with solutions each stage of the lead's journey. These stages include: Consumer Lead Qualified Lead Client Evangelist Simply put, a consumer is unaware of you or the real estate services you provide. At this stage, the consumer isn't looking to buy or sell a home. They convert into a lead when they engage your brand and give you their contact information. At this stage, the lead is usually interested in your real estate services but are window shopping for a home and are less motivated. A lead converts into a qualified lead when they engage with your brand more frequently, At this stage, the qualified lead will stay on your website longer, open your emails, save listings, and even each out to you to schedule a meeting. A qualified lead becomes a client once you've agreed to work together. At this stage, communication is frequent, homes are being shown, and offers are being made. A client becomes an evangelist when you dazzle them, help them achieve their real estate goals, and complete the transaction. At this stage, the evangelist is enthusiastic about your services and recommends it to their network. For your business, that means focusing and upgrading systems that support: Lead Generation (Consumer to Lead) Follow Up, Tracking and Nurturing (Lead to Qualified Lead) Conversations (Qualified Lead to Client) Client/Transaction Management (Client to Evangelist) To generate more leads, you can increase your ad budget, diversify your lead sources, or farm new territories. You can upgrade your follow up, tracking, and nurturing systems by automating them with personalized messages that provide value and send with perfect timing. You can elicit more conversations by implementing a system that notifies you when a lead displays red flag behaviors that signal their readiness to be contacted. Finally, you can hire additional staff to help you manage these systems—so you can focus on what matters most, meeting clients, managing transactions, and closing deals. With all the new business you'll generate from scaling your business, you might need to hire multiple agents to help support you. To view the original article, visit the Zurple blog.

How to Evaluate Your Real Estate Business for Scaling and Growth Opportunities
Aren't you tired of being too busy? You might be overextending yourself by working 12-hour days and performing every aspect of running a real estate business -- while squeezing in time with family. It might feel like you're drowning in work, barely keeping your head above water. Since you're spreading yourself too thin, you might provide a poor experience for your clients, since you're unable to give them the time and attention they deserve. Don't they deserve the best? Plus, businesses are reopening and yours might be experiencing a flood of buyers as if a dam burst. But hey, it's better to drown in work than to have no work at all, right? True, but you can have a heavy workload without feeling like you're drowning, and you don't have to sacrifice your personal life or your family to succeed as a real estate professional. You can have it all, just work smarter. If you're drowning in work, can't give your clients the attention they deserve, and can't find free time for yourself or your family, that's a good indicator it's time to scale your real estate business. Why? By scaling your business, you can reassess your processes and create the infrastructure necessary to properly manage and facilitate its growth. If you scale successfully, you'll increase your income, have more time for clients, family, or yourself, exert less energy on less important tasks, and ultimately increase your market share in your area. In this article, I will share ways to evaluate your business, provide tools to help you forecast and project your real estate business's growth, and offer tips for planning for the future. How to Evaluate Your Real Estate Business and Plan to Scale To begin scaling your business, you must evaluate your real estate business and its historical information first. By reviewing your past sales, expenses, amount of work/hours spent working, task priorities, and marketing metrics like page visits/clicks/conversions, you can assess your numbers to forecast your future performance. Since your historical information is the foundation for forecasting your future sales/profits, your projections will be more accurate if they are more detailed and thorough. 1. How to Forecast Your Real Estate Business's Annual Sales Growth Let's say you've been in the real estate business for three years. You have three years of performance data like sales, expenses, profits, and marketing metrics that you can use to forecast the future. To get the most accurate data, use your monthly performance data and its sum to determine your annual performance. To calculate sales growth, we need to calculate four amounts: # of Services Sold: The amount of monthly home buyer transactions, home seller transactions, and other ancillary services you provide that produce cash flow like referral bonuses, homeowner's insurance, home improvement, etc. Average Price of Service: The average income earned from each transaction and service you provide by month. Average Price of Service = (Price of Transaction 1 + Price of Transaction 2 +...)/ # of Transactions Revenue: The amount of income earned. Revenue = # of Services Sold x Average Price of Service Average Revenue Growth Rate: The percentage of sales growth based on the previous year Average Revenue Growth Rate = (Historical Year 2 Revenue/Historical Year 1 Revenue) -1 After you've determined your average sales growth rate, you can use it as a constant for growth to forecast the amount of potential future revenue. For example, if you earned $1,000,000 of revenue in historical year 1 and $1,100,000 in historical year 2, your average sales growth rate would be 10%. To forecast year 1's revenue, simply multiply historical year 2's revenue by the average sales growth rate 10%, then add the result to historical year 2's revenue: Year 1's Revenue Forecast = (Historical Year 2's Revenue x Average Sales Growth Rate) + Historical Year 2's Revenue $1,331,000 = ($1,210,000 x .1) + $1,210,000 Finally, complete these steps for Year 2 through 5: Year 2's Revenue Forecast: $1,464,100 = ($1,331,000 x .1) + $1,331,000 Year 3's Revenue Forecast: $1,610,510 = ($1,464,100 x .1) + $1,464,100 Year 4's Revenue Forecast: $1,771,561 = ($1,610,510 x .1) + $1,610,510 Year 5's Revenue Forecast: $1,948,717 = ($1,771,561 x .1) + $1,771,561 Therefore, your real estate business's revenue would increase by $617,717 over five years at a constant growth rate of 10% and $1,100,000 base revenue. Since real estate is highly influenced by seasons, use the difference between monthly growth rates instead of the annual growth rates to calculate projections more accurately (March Historic Year 2 – March Historic Year 1 = March Sales Growth Rate). Based on this information, you can determine the amount of monthly and annual transactions and their average prices required to hit a certain revenue or growth goal. 2. How to Forecast Your Real Estate Business's Expenses Your business expenses are the costs associated with running your real estate business. Your should have a separate bank account to keep your business and personal costs split up – it's much easier to manage and track your budget this way. The most accurate way to forecast your expenses is by following a similar process as the Sales Growth Forecast step above. First, calculate your historical monthly expenses for the past two years. If certain fees are paid annually, divide them by 12 months to calculate the monthly expense. Then compare the historical expenses for historical year 1 and historical year 2 to calculate your expenses growth rate: Expenses Growth Rate = (Historical Year 2 Expenses/Historical Year 1 Expenses) – 1 Once you've calculated the Expenses Growth Rate, you can use it to calculate the Expense Forecast for Year 1: Year 2 Expenses Forecast = (Year 1 Expenses x Expenses Growth Rate) - 1 Alternatively, you can estimate your monthly expenses and expense growth rate to calculate a less accurate five-year expense forecast. Note: If you choose to estimate your expenses growth rate, it is better to overstate and have extra budget than it is to understate and have run out of budget early. Some real estate business expenses include costs associated with office overhead, phone, vehicle, productivity software, marketing, education, training, commissions paid out, business meals, travel for work, general business, licenses, fees, and other expenses that help you do your job. Again, be as detailed, accurate and as thorough as you can if you want to the most accurate forecast. Many of these business expenses are tax deductible, so you get receive a hefty tax refund by tracking your spending in detail and reporting it the IRS on your taxes. With this information, you can properly budget, find the necessary amount of funding, etc. over the next five years. 3. How to Forecast Your Real Estate Business's Profits After you've calculated your sales growth and expense forecasts, you can use those results to estimate your profits forecast. Your profits forecast can be calculated by subtracting your expenses from your revenue. By creating a five-year profits forecast, you can paint a picture and more accurately predict the growth of your real estate business. Before you draft a plan to scale your business, you must first evaluate your historical performance so you can forecast your real estate business's potential growth more accurately. To evaluate your historical performance data, gather two years of past sales performance to determine your sales growth rate, and two years of past expenses to determine your expense growth rate. Use these growth rates to forecast your potential profits over five years. Once you've determined your profits forecast, use the results to plan your budget, set monthly/annual transactions objectives, and project the average service price needed to accomplish your scaling goals! Download the complimentary Sales Growth, Expenses and Profits Forecast Calculator to help you forecast sales growth and revenue over 5 years >>> To view the original article, visit the Zurple blog.

From Plan to Reality: Making Goals and Sticking to Them
Real estate is one of the most popular second careers in the United States. Agents come from all sorts of backgrounds and from all over the country. From homemakers to retirees, tradespeople to executives, each person brings a fresh perspective to the industry. Along with a growing number of college students graduating from real estate business programs, all of these various viewpoints and personalities help shape the future of buying and selling homes. What one thing unites them all, more than anything else? They want to succeed – and no matter when they begin their career, they're in it for the long haul. Many people spend their first two years in real estate getting their footing and discovering the ins and outs of the trade: Learning fundamental real estate skills and discovering what appeals to them Seeking out warm leads among their family, friends, and business associates Executing on those crucial first transactions and cultivating a referral network There are few things more satisfying than reaching closing day on your first home. It is a truly transformative experience for many newcomers: The day they can see that they have truly made a difference in a client's life. But how you get started isn't always how you should continue. It's easy to fall into the trap of doing what's worked before for as long as you can. Unfortunately, it's impossible to grow or scale your business without stretching to try new things. If you stay in "referral mode," your profit will always be limited by the hours in the day. And if you push yourself to work too much, you could crash. Instead, real estate agents who have cleared those first few hurdles should take time to plant seeds and find that perfect balance. The Goals You Pursue Today Are Your Seeds for a More Prosperous Tomorrow The most precious resource is time. Few things make that more obvious than a handful of weeks spent working 10-hour days! When you set and commit to goals, you are designing your future in important ways: You determine the highest-value ways to use your skills, money, and time in the long run You go from having a job to owning a business that can help you live the life you desire By growing on the way to your goals, you are more resilient when circumstances change Even goals we don't reach can teach us things we will use in the future — because the purpose of setting a goal is to clarify where you're headed and move in the right direction consistently. It's that second part – consistency – that brings so much challenge, even for high-performing people who accomplish much in many areas of life. Big goals can seem very far away. In many cases, your progress toward them is opaque. So, how does anyone – in real estate or otherwise – stay the course on those big goals? Odds are good you set a few goals of your own in January. Here's how to stick to them and excel: Recognize the Limits of Your "Goal Bandwidth" Goals are critical to being proactive and intentional. But whether you're working solo or you have a team of ten, time and attention set hard limits on goals. From individuals to agencies, most people have room for two or three goals at a time. The more goals you have, the more divided your focus and the less time you can devote to each one. Make Your Goals Impossible to Ignore Goals need to be externalized into the present world to have any effect. Even something as simple as having to open a specific file to review your goals is already too complicated. Just like fundraisers have those iconic "donation thermometers," you need physical reminders of your plans, so your thoughts return to them regularly. Break Goals into Smaller, More Attainable Pieces The bigger a goal is, the easier it is to feel out of reach. Anyone who has ever tried to lose 30 pounds or more knows this feeling. The solution? Break goals down into individual steps, then look at that immediate next step and dice it down even further until you understand precisely what you need to do next. Document Those Small Pieces Wherever Possible Say you discover that one goal has four major steps, and the first of those steps has six little pieces. The odds of you remembering all of them at any given time are nil – they exceed working memory all on their own. Once you figure out your steps, write them down. This will also help you uncover gaps where more research or planning is needed. Make Time to Review Your Goals As you take those small steps, you are making progress. But that progress is often hard to see, let alone be excited by. Goal reviews should happen at least monthly, for two reasons. One, they ensure you are still doing the things you need to do. Two, they put your progress since the last check-in into context, boosting morale. Find Ways to Leverage Accountability Research shows people are much more likely to complete a fitness program if they enter it with a friend and stick together. So, too, with real estate goals. Peer accountability works and avoids the de-motivation traps that top-down accountability to a boss can cause. Accountability to a mentor can also be highly effective. Implement the Tools You Need to Reach Your Goals As you center your goals, you will find more opportunities to update and upgrade your workflows. You might find, for example, that you can save half an hour a day by using a Customer Relationship Management suite to stay aware of what your contacts are doing. Look at the long-term cost-benefit of tools as you decide. Eliminate Distractions from Your Day The bird's-eye view keeps you on the right track, but goals aren't attained at 30,000 feet: They involve daily effort down in the trenches. One of the best ways to rack up those hours is to cut distractions. Start with your mobile device; it should be on mute and notification-free for defined periods of the day while you do deep work. Use the Eisenhower Matrix to Guide Daily Priorities President Dwight D. Eisenhower, commander of the Allied invasion of Normandy, used a single tool to optimize his limited time and attention. This four-quadrant matrix immediately clarifies the relevance of any work task: Urgent and Important: These tasks are top priority and should be done right away Urgent, Not Important: These tasks should be delegated if they cannot be eliminated Important, Not Urgent: Time must be set aside for these long-term growth tasks Not Important, Not Urgent: These tasks can be cut out of one's work-time schedule Dedicate Your First Hour to Your Highest Priority Invest the first hour of work (after your morning routine) to the most vital task that will bring your goals closer. This hour should be ruthlessly distraction-free, which is why it helps to do it early: FOMO is often high among real estate agents, who know they must respond to leads in minutes, but always put first things first. Goals become goals because they won't materialize in the normal course of doing business – or if they do, it will take ten times longer than with focused, intentional effort. Using these techniques, you can drive toward your goals more consistently, honor the value of your time and energy, and still get the rest you need. To view the original article, visit the Delta Media Group blog.

How to Set Yourself Up for Busy Season Success
Believe it or not, we're not in busy season. Yes, the real estate market has been red-hot since June, with a record number of buyers looking to relocate in the wake of the pandemic. And, yes, this winter has been one of the most active in recent memory—so much so that, to many in the industry, it's as if last year's buying frenzy never ended. But the truth is, the market is comparatively slower right now, and it will pick up steam in the coming spring and summer months, just as it always does. In fact, as more sellers gear up to enter the market to capitalize on record-high home prices, we might be on the precipice of one of the busiest busy seasons in recent memory.

How to Use Outsourcing to Reduce Your Workload
The rebound in real estate markets nationwide has been challenging for many agents. Tight inventory and multiple offers in many places is the norm. Working with buyers and sellers during a pandemic adds a new, extra layer of effort. Having to work remotely adds even more challenges. It seems agents find themselves today working harder than ever. How do you keep the quality of your work high and, at the same time, reduce your workload? Outsourcing is one option worth your consideration. Here's how to figure out what you can – and should – be outsourcing. Self-assessment test The saying goes, "Do what you do best and outsource the rest." After all, everyone knows the tasks they love as well as the things they loathe. The problem is, using this as a particular measurement to decide what you should be doing and what you should be outsourcing is not always in synch. For example, some agents love to develop their marketing materials. The problem is the creation of marketing materials can consume a significant amount of time. It's also easy to outsource these activities. By making an assessment, you can make the right decision. If you don't enjoy creating marketing material or are not particularly good at it, then you know outsourcing can be a great answer to reduce your workload. If you enjoy these tasks, then you need to measure it. When you track your time, you can see what it takes to create marketing materials for each listing. How much total time is it taking to develop a property flyer, update your website with a single property listing page, and create a virtual tour? Like most agents, you would be shocked as projects like these include tasks that can consume much more time than you expect. That's why you need to measure it before you decide. Low-hanging fruit In addition to marketing tasks, how does your client database look? Are you using a CRM or Customer Relationship Management software? Hiring someone to pull together all of your contacts in one place can reduce your future workload. You will avoid scrambling to look for past client background information when they contact you as you will have it all in one place – just a click away. How much time do you spend scheduling appointments with vendors to help your sellers? From arranging for professional photographers to stagers to inspectors, this is another area that can end up eating into your most productive time. Is there someone in your office that you can contract to help with these tasks? Another alternative is using a virtual assistant as this is the kind of ideal routine job that someone else can handle, even if they don't live where you do. Looking at photography, are you still shooting your listing photos? Research says you shouldn't be. Listings with professional photography sell faster and can help increase your ability to win more listings in the future. Home listings with high-quality photography sell 32% more quickly than listings with poorly shot images, according to the Center for REALTOR® Development. Even though your smartphone takes great photos, there's no substitute for a professional photographer's skill when it comes to showcasing the most important part of your business. A great way to outsource If technology isn't your thing, and you have FREE access to Tech Helpline—as more than 60 percent of all Realtors in North America do!—this can be one of your best and most cost-effective ways to outsource! Tech Helpline can help you with every tech tool and nearly every software program you use every day. If you get a new smartphone or laptop, it's the first place you should contact. As a covered real agent or broker, you can ask Tech Helpline multiple questions about your tech challenges all on one call. Most importantly, Tech Helpline can help you with other business tech needs beyond just helping you reset your Wi-Fi for a faster connection or help get your printer to print. You can get assistance from adding a background image or video for your next Zoom meeting to the ins and outs of connecting your social media accounts. There are so many things that Tech Helpline can help you with when it comes to all things technology related. Here's an article that shares more ways Tech Helpline can help you reduce your workload. And if your Realtor association, MLS, or brokerage doesn't have Tech Helpline yet, encourage them to go online at TechHelpline.com and reach out to add this valuable member service. Tricia Stamper is Director of Technology at Florida Realtors®, which owns and operates Tech Helpline and Form Simplicity.

Proven Tactics of Real Estate Super Producers
What does it take to be one of the most successful real estate agents in the country? Joe Sesso, the Executive Director of Sales Marketing for Homes.com, delved into the Secrets of Top Selling Agents archives and discovered four common themes that industry titans such as Howard Brinton, Tom Ferry, Alexis Bolin, Michael Maher and 11 others have used to build amazing real estate businesses. He outlined these themes and shared some of their tips in a recent webinar, which you can view here, or purchase the book for more profitable business tips!

Friday Freebie: 2020 Real Estate Marketing Planner
Are you psyched to crush your sales goals during real estate's busy season? Now's the time to get ready because the market is about to warm up. To help you prepare, we're highlighting a free, year-long real estate marketing planner in this week's Friday Freebie. Full of worksheets, calendars, and campaign ideas, this planner is so much more than a bunch of boring bullet points—it's full of actionable items that can help turn your sales dreams into reality. Read on to find out how you can download it for free! FREE Download: 2020 Real Estate MARKETING PLANNER™, courtesy of ProspectsPLUS! Goals are easy to set, but a solid plan for achieving those goals? Well, that's a little tougher. If creating an effective plan is not your forte, never fear. ProspectsPLUS! is offering RE Technology readers a free real estate marketing planner that has everything you need to keep your sales pipeline full year-round. Here's a look at what's inside this free download: An annual business planning worksheet with income goals, listing goals, and more A monthly calendar with action items on specific dates and observed holidays Color-coded campaign suggestions for different types of marketing, including listing leads, niche marketing, geographic farming, sphere outreach, and customer appreciation. A tip of the month with creative strategies for marketing your business Weekly worksheets to track how well you met your goals And more! You know the old saying: "A goal without a plan is just a wish." So get ready to plan your way to success in 2020! Download your FREE copy of the 2020 Real Estate MARKETING PLANNER™ now!

Rebuilding Your Real Estate Business After a Disaster
Would your business survive if a natural disaster hits your city? Hurricanes, earthquakes, tornadoes, floods, and fires can have long-term effects on the real estate market in your city. But that doesn't mean you have to shut down your business. With the right precautions, you can ensure your business survives and put yourself in a position to help your community rebuild.

Listing Tips and Strategies to Stand Out and Sell More Homes
Fastest and Easiest Source of Listings Every top agent knows the number one source of business is word-of-mouth recommendations and repeat customers. Word-of-mouth is defined as: Giving people a reason to talk about you or your stuff. Making it easier for those conversations to take place. Every real estate professional needs a marketing strategy to intentionally give people a reason to talk about you and to make it easier for them to have that talk. Sending out useful real estate information on a consistent basis to everyone you know is the easiest and fastest way to make these conversations take place. Share tips, emails, blogs, social posts, and short videos that share what you know about real estate that also creates the perception that you are an expert—that you are competent at what you do.

5 Tips to Successfully Launch Your Real Estate Career
So you finally have your real estate license and you're ready to kickstart your new career as a real estate agent. What do you do now? While launching a career in real estate can be daunting, the following are a few ways to ensure you position yourself for long-term success in the industry.

Friday Freebie: Set (and Keep!) Your 2018 Goals with this Workbook
Are the goals you've set for your real estate business this year really goals—or are they just wishes? Here's how you can tell. If you say, "I want to make $10,000 more in commissions this year," and leave it at that—well, friend, you're just a wishful thinker. If, however, you say, "I want to make $10,000 more in commissions this year—and here are the specific steps I'm going to take to do that," then you're a bonafide goal setter. But here's the thing—it's easy to think of what you want to accomplish, but much harder to devise a plan for how to accomplish those things. If formulating the specifics of your strategic plan for this year is overwhelming, never fear! In this week's Friday Freebie, we're highlighting a downloadable workbook that leads you through the most challenging aspects of setting goals.

7 Steps to Creating an Awesome Marketing Campaign
Marketing campaigns play a crucial role in our job as real estate agents, so it is always paramount that our campaigns are top notch and deliver results! Individual tactics aimed at creating awareness of your brand, building relationships, and connecting with potential clients are good but not nearly as effective as a strategic foundation of activities that all work towards a common marketing campaign. A well-designed marketing campaign can help to: Build your brand Promote your business presence in the local community Attract repeat and referral business Generate leads How does Garry Wise, co-founder of The Paperless Agent and co-owner of GoodLife Realty, and his team put together a marketing campaign that gets results? Great marketing comes down to one simple equation: Right Person + Right Place + Right Time Here are the seven steps you need in order to create an awesome marketing campaign:

3 Tips for Agents Who Want to Open Their Own Brokerage
"It was never my dream to work for a real estate company for the rest of my life." —Stacie Perrault Staub Was it the idea of promoting someone else's brand, working around someone else's schedule, and splitting your commission that encouraged you to pursue a career in real estate? Probably not. Working for an established brokerage is a great way to get started in real estate, but it's rarely the end goal of aspiring agents. In a recent Secrets of Top Selling Agents webinar, Stacie Perrault Staub, founder and owner of West & Main Homes and the brain behind the popular Genuine Hustle conferences, shared her tips to start your own real estate brand. Watch the free webinar, Launching a Real Estate Brand from Scratch, for more information, or find our three tips from the webinar below! 1. Take Your Future into Your Own Hands It can be hard to leave a job or company you love, but eventually you have to "make the decision to take a leap and go out on [your] own and start [your] own thing." Staub stressed that "finding those like minded people that share your passions" is a crucial step toward building the confidence you need to launch your own brand. Consider planning a conference, hosting an event, or forming a mastermind group to help you connect with real estate professionals who have already started their own brand, or who, like you, are just starting down the path.

Real Estate Retirement: What’s Your Exit Strategy?
For many reasons, the real estate industry is one that doesn't lend itself well to retirement plans. For most agents, selling real estate is a constant battle to stay ahead of the curve--over-spending when the market is up, and struggling to survive when the market goes south. In a business where 20% of the agents do 80% of the business, it's easy to see why an exit strategy is the last thing on most agent's minds. However, as is the case in most situations, you don't have to reinvent the wheel. For those who can survive the first five years in the business and then avoid the high rate of burnout that permeates the industry, there is a built-in retirement plan for those who do two things: provide great service and then follow-up. It's that simple. A staggering 84% of home buyers said that they were satisfied with the agent they used and would use that agent again. Yet, less than 20% of buyers end up using the same agent in their next transaction. There is a huge disconnect going on and it is costing most agents hundreds of thousands of dollars in lost revenue. Currently, the average agent reports earning 21% of his or her business from referrals from past clients. That number jumps to 29% if the agent is making $150,000 or more. The better agents get it. With the average homeowner buying and selling a home every five to seven years, that is a LOT of opportunity simply by making sure you simply stay in touch.

Friday Freebie: Business Plan Builder from realtor.com®
With a new year just beginning, now's the perfect time to put pen to paper and calculate what you need to do to achieve your goals in 2014. A business plan isn't set it stone, nor should it be a heavy burden. Rather, it's a roadmap that helps clarify your objectives and how you're going to achieve them. Success stems from having established goals and a plan to achieve them. Fortunately, this week's Friday Freebie makes creating a plan with achievable goals simple. Read on to learn more. Free Business Plan Builder from realtor.com® Realtor.com® offers a free tool that allows you to review last year's results, set goals for the next year, and calculate just how many activities you will need to engage in to reach your objective. This free tool is designed for agents who have set an ambitious goal for prospecting, sales and closings. It includes recommendations for the following, based on your unique business objectives: Webinars Downloads Tools If you're looking for a strong foundation to get your goals back on track, spend five minutes with this free tool from realtor.com®. It'll help you assess the tools you're already using so you can plug in solutions that deliver results. You will see how many prospects you need to acquire each month, and how many follow-up calls you need to make to position yourself to meet your goal. Click here to learn more about this free benefit from realtor.com®.

5 Steps to Effective 2014 Business Planning
It is hard to believe that there is only a little over one month left in this year. Where did the time go? The holiday season is quickly approaching, bringing the new year in its wake and conjuring up images of all the things that were meant to be accomplished over the past 10 months, but never seemed to be completed. Oh, the guilt of having neglected the reorganization of your storage room! On the other hand, it also brings about images of all the successful tasks that did get done during the year, as well as ideas regarding opportunities and tasks that can be scheduled for the new year. Glorious visions of that newly-organized storage room, the freshness of a new daily organizer, the hope that your email box will eventually clean itself. Visions that won't become a reality unless a plan is put in place! To help you achieve your goals next year, we've compiled five steps to effective 2014 business planning. It's never too early to plan for success. Step 1: Retrospective of 2013 Emerson once stated that, "Shallow men believe in luck. Strong men believe in cause and effect." He was right. Wishing on stars and hoping that things magically turn out the way you want them to be does not work. Looking back to 2013, if there are things that did not go the way you wanted them to, then looking at the reason this happened will provide a strong foundation for your 2014 planning. In particular, answer the following questions: What was your particular focus for 2013? Did you achieve it or how close did you get to achieving it? If you did not achieve your goal, what prevented you from doing so? What could have been done to remove those obstacles? What worked? What didn't work? What reporting did you use to track your progress? Did you track your progress? What resources were pinpointed as being potentially beneficial for the future? What resources are no longer helpful and should be discarded? Who provided you feedback or insight that was especially helpful? What key events took place that changed your focus or aided in your staying on track? Can they be repeated? What new things did you learn about you, your clients, your business, the industry? What mistakes did you make? What did you learn from these mistakes?  

Turning Prospects into Customers…for the Long Run
As media reports continue to confirm on an almost daily basis, things are on the rise for real estate. With 2013 panning out to be a big year of recovery, agents across the nation are seeing a significant upswing in business as buyers and sellers get off the sidelines and jump back into the game. With this upswing come more leads, clients, appointments ... and more need for organization and close management of day-to-day demands. According to Karen Werling of Prudential Chaplin Williams Realty in Fernandina Beach, Fla., the right technology and systems are critical to taking care of business and maximizing the opportunities of the market rebound. As is the case for many real estate professionals around the country, Werling has witnessed noteworthy growth in her market. "The biggest change in the market is that buyers are ready to purchase," she explains. "They're no longer holding off to see what the market is going to do. Inventory is dropping, and prices are going back up, so they're taking action." Five-to-seven years ago, Werling and her team were prepared for the imminent advancement of technology in the real estate arena. Therefore, they focused on Internet leads and marketing. "Five years ago, home prices were spiking. We've been in the real estate profession for over 25 years, so we knew it was going to be short lived. We needed to prepare for what was to come. As we expected, the economy took a downturn, but we were ready for it," she says. Over the last year, Werling's market has recovered very quickly, which was also anticipated by her team. "Our inventory is down 30 percent from three years ago and our sales are up 40 percent. This is a result of attractive pricing and rates and the pent-up buyers who are ready to buy," she says.

How to Keep Other Agents From Stealing Your Leads
It's a common practice in real estate to try to generate leads from a competitor already doing a good volume of business. The easiest way to steal leads is to look at a competitor's shortcomings and create a marketing plan based on their shortfalls. Easy Targets: Agents who don't focus on a target market. Agents lacking a comprehensive website. Agents without a lead management system. Lack of drive will also cost you leads. Don't become complacent with your marketing plan – there's always someone around the corner creating a strategy that tries to address your inadequacies. Target Market Casting a large net into a sea of leads seems like a good idea. But potential leads don't want to do business with an agent who doesn't specialize in a specific field. Without a target market, you will look like a generic agent. People want to do business with agents who know who their clients are and what they want. When you look at it from the client's perspective, it makes sense. They don't want to waste time working with an agent who doesn't understand their needs. Stand out from the rest by becoming an expert in your field. Dustin Russell, manager of acquisition marketing at Market Leader, offers this advice: "Make sure you aren't advertising alongside other agents. A site that places you next to one, two, or three other agents doesn't provide exclusivity. You may get a lead here and there, but you aren't positioned as the only expert in your area."

Creating Actionable Social Media Strategies
The list of social media networking sites, including Twitter, Facebook, Linkedin, Active Rain, and YouTube, could make your head spin. If the thought of starting and maintaining an actionable social media strategy seems overwhelming, it's time to come up with a game plan. In the world of social media, you are either a player or sitting the sidelines. Writing a blog from time to time, creating a Facebook page that you rarely visit or tweeting every couple of weeks doesn't keep you in the game. In fact, it shows that you are inconsistent. Go beyond just creating a presence. How to Get Started Before you start creating accounts on every social media networking website under the sun, take some time to think about your target market. By focusing on a target market, you can create a consistent brand and focused social media strategy. "Determine your target market, because you will want to use the social media tool(s) where you will find your target market. ... By establishing this, you will be more effective and efficient in your social media efforts," says Sheryl Johnson, founder and CEO of BD-Pro Marketing Solutions. A target market is who you think will buy a property or service from you. Create a list of characteristics that you think your customer base has—age, marital status, geographic location, occupation and hobbies to name a few. This list is referred to as a demographic profile. Use this demographic profile when creating your online presence.

Why Every Real Estate Agent Needs a Real Business Plan
It seems that at least once a year I get into a phase where I consider purchasing a new car. Of course, I rarely take the next step and actually buy one (my garage can only fit two cars at a time). I've always been a fan of brands like Audi, Toyota, and Nissan, but this year I was surprised to see some cool new car designs from Ford, and now I'm noticing them all over the place. I guess it's human nature to notice certain things once we've set our minds on them. For example, we recently launched the 2013 Real Estate Business Plan, so naturally I'm noticing other real estate business plans all over the place. In fact, for those of you who were able to attend this year's NAR conference, you might have picked up a copy of the Florida Association of REALTORS® November/December magazine. In this magazine are a slew of business plans for real estate professionals. I've included a list of them below, along with a few others, for your reference. As I look over the list, I notice a number of differences. Some are essentially guides for creating a traditional business plan – such as a small business might create. A couple of the plans mention trends for the coming year and advise agents and brokers on where to focus their efforts.

A Geographic Farm? Do it right the first time.
It is hard to deny that in many areas of the country (especially the Silicon Valley market, where we reside), the real estate market has rebounded nicely and is showing no signs of slowing down. Because of this, many REALTORS® have decided to start a new postcard farming area, or fire up an old one that hasn't had any action in a while. Many agents, contemplating such a move, call or email our office for best practice advice, tips on where and how to market, or even help carrying out a direct mail campaign. Here are a few of the most common questions and/or pitfalls we encounter and how we advise our clients. Hopefully this helps you out as well: 1) How do I pick a farm area? Selecting a farm area is one of the most important things you can do when planning your campaign. Think about it: You are going to be marketing to this area, on a regular basis, for months (actually years) to come. You are going to be spending hundreds, and most likely thousands, of dollars on this endeavor throughout the course of your career. With those two things in mind, why would you take this decision lightly? Whenever I speak with a client or prospective client about picking a farming area, I always bring up two things: Location Location Location: I am betting you are thinking I'm talking about picking an area that is "desirable," hot, or fashionable. Well, get ready for this--I'm not. What I mean is pick an area that you are in love with. Human beings are smart animals. We pick things up based on our interactions with people. If you are at a listing appointment with a prospective client, or holding a home open, if you aren't in love with the area, don't like the houses, or would rather be somewhere else, it's going to be evident. It might be slight little things, but people will see this and figure it out. Simply put, if you love what you do, it will shine, making those around you enthusiastic about what you are doing and therefore making you more successful. Just because "everyone else" is focused on a certain price point of home, or certain geographic area of your marketplace, does not necessarily mean you have to also be focused on that area. Work where you love, and many things will work themselves out.