12 Activities of A Successful Realtor:

Activity #1 – Create A Business Plan:  You’re in business, treat it like a business. That means you need a plan with S.M.A.R.T. goals (See Defining Goals Worksheet”).  Identify your goals in the 6 areas of your life with special emphasis on your career goals for the moment. Once you have established goals, speak with your Principle Broker (PB) to make sure they are realistic.  Using your market data and help from your PB, figure out how many transactions you’re going to have to close to achieve it.  Then, make sure the area in which you’re selling can support that level of productivity.   Another task you should complete in the first week is have a professional photo taken for use on your business cards, Web site, and other personal marketing materials.

Activity #2 – Create A Marketing Plan:  Think about your marketing activities. Yes, real estate is largely a referrals game. But marketing can play an important role in terms of raising your overall visibility. Money is a consideration here. Unless you come into real estate with a substantial bankroll, you must get the best bang for your buck, so to speak. Common marketing media for most real estate agents is newspaper, flyers, emails, radio commercial, and billboard advertising. As with all marketing, however, remember that repetition and consistency is vitally important. Whatever program you commit to, give it at least six months to work.  You also may want to think more about your Web marketing efforts. If you have some listings, look into the tools for marketing them available through your personal and company Web site, Craigslist.com, REALTOR.com, zillow.com, etc. and numerous other online venues.  

Activity #3 – Get Educated: Take your education to the next level by taking a sales class. Even “born salespeople” can benefit from expert advice. Selling is an interpersonal skill that takes time and practice to master. Yes, an outgoing personality helps. But enthusiasm by itself is not enough. You need someone who can point out what you’re doing right and how you need to improve. Also, if you’re like most people at the beginning of their sales careers, you need the discipline that comes from following a specific program. The right teacher or coach can make a world of difference. 

Activity #4 – Start Working: You’re starting to see customers now; make sure they know you mean business. Later in your career, you’ll have room for flexibility, but at the start, it’s a good idea to maintain regular hours. Plan on starting no later than 9 a.m. and working until 5 p.m., whether it’s in the office or in the field. Unless you’re selling resort property, wear business attire. Also, make sure your tools and equipment are in order. Essential tools include a clean car, a cell phone, laptop or a handheld computer, and possibly a digital camera. The goal is to project competence and professionalism. This is a good week to follow up on those letters. Call your entire prospect list. Remind people that you are now in real estate, and ask if they or anyone they know is looking to buy or sell a house.  

Activity #5 – Compile A List:  Create a list of family, friends, friends of friends and their friends as well. Anybody you are in contact with on a routine basis should make this list.  DO NOT qualify these people while your creating your list, that is to say don’t leave anybody off because you “THINK” they not looking buy, or your afraid to talk to them or they’re a doctor etc.  Remember,

 “…prosperous real estate agents DO what bad real estate agents DON’T.” – Real Estate Monkey

 Send them a letter letting them know that you’re now in real estate and available to take care of their real estate needs. This is the beginning of your database, the single most productive prospecting tool you’ll ever have.  Something else you can do with the list is to review the list carefully and make a note by each name with an “A”, ”B”, and “C” or “1”, “2” and “3”  it doesn’t matter how you identify them.  The “A” or “1” names are people who are looking to buy NOW.   The “B” or “2” names are people who are looking to buy within the next 6 months.  The “C” or “3” names are people who are probably not looking to buy or buy more than 6 months from now.  Use this list to prioritize your clients, remembering to keep updating your list as you meet new people. 

Activity #6 – Call on Expired and FSBOs: You should have a lead or two from your letters and calls. If you don’t, check out the expired listings and FSBOs in your selling area and start calling. Better yet, go see them in person. These two categories of Sellers are considered “warm” leads rather than “cold” leads. A “warm” lead is a person who is interested in Selling but for some reason they have not sold their house yet.   When you get a hold of these Sellers you must understand WHY there property hasn’t sold yet.  Once you know the answer, SOLVE IT.  Talk to the Seller and ask him “Why didn’t your house sell?” He will then proceed to tell you exactly what you need to do to sell the house, or at least make him happy.

Activity #7 – Start Farming: Start thinking about farming, which is identifying and focusing on a fairly tight selling area.   You can farm in a number of different manners:  geographically (houses on the Southside, in your neighborhood etc.), economically (high-end homes, investment properties etc.), specialty properties (golf-course lots, lake properties, etc.)  and of course commercial properties.  Typically, a farm is not a large number of target residences. Your own neighborhood is often a good place to start. In general, people like doing business with people they know.  Assemble a marketing list, which lists houses by address. Quarterly or monthly, send every resident some kind of direct-mail piece, either a letter or postcard. The first piece should introduce who you are and give pertinent biographical information. If you have a family and feel comfortable talking about them, include their names as well. The goal is to be perceived as the person to turn to when the time comes to sell, or buy, their home.

Activity #8 – Get Involved: Investigate ways to get involved in your community—and choose one community service project that suits you. There’s no downside at all from a business standpoint; it’ll help you be perceived as someone who knows and cares about the community. But you’ll also find it personally rewarding. 

Activity #9 – Start Prospecting Daily: It may sound simplistic, but consistent prospecting is the No. 1 way get listings. Many top real estate agents prospect daily, yes DAILY.  Plan on spending at least two or three hours everyday calling leads and sources of leads. Make friends with a few mortgage brokers who can refer buyers in your direction. As time goes on, the relationship will shift and you’ll become a source of leads for them.  Talk to EVERYONE you meet.  I can tell you the key secret to making a huge fortune in real estate!  

Here is the secret to wealth in real estate “Talk to 5 people everyday for 6 days a week, 52 weeks a year.” SIMPLE

Other sources of leads: professionals who deal in property matters, such as probate and divorce lawyers; insurance agents; CPAs; and investor and landlord groups. Also: contact banks and government agencies that need to dispose of property seized in bankruptcy sales and tax and drug cases.  You should spend 80% of your time working on money-generating activities.  The rest of the time is the other “stuff” that needs to get done; paperwork, education, etc.

Activity #10 – Search For Buyers: The old real estate adage is “You must list to last” is true; However, buyers, create an important part of your income and account for a large portion of your time, especially in the early days of your career. How do you find them? Collect names and contact information from visitors, and get your colleague’s OK to follow up. Team up with a mortgage broker in your area to sponsor homeownership seminars.   

Activity #11 – Cold Call NOW:  Sooner or later, everyone has to answer the cold-calling question. How comfortable are you with it? In the beginning, hardly anyone likes it. But it can be an effective tool. In fact, some people build businesses around it.  The key with cold calling is to use a script. When I started my career over a decade ago, I used Microsoft Word to create a very short script as my opening few sentences. I printed it out and taped to my monitor and literally read it word-for-word on my first few dozen cold calls.  The goal with cold calling is to get through your script. Don’t worry about whether you get a lead or not. Cold calling is a total numbers game. It’s a mathematical certainty that if you call enough numbers, you will eventually find someone who can use your services. Some people have the stamina for this, others do not.   The key to cold calling is to understand that if you get turned down, and you will, it is NOT personal.  They are not turning YOU down personally; they won’t see you walking down the street and start laughing and pointing.  Remember, every “no” gets you one step closer to a “yes.” IF it takes 10 cold calls to get 1 yes and you earn a commission of $3,000 on that sale. You actually earned $300 on all 10 calls; therefore, every time you get a “No” just say to your self, “That was an easy $300” and move to the next phone call.

Activity #12 – Keep Going: Keep on plugging. It can’t be overstressed that the key to success in real estate is persistence. It’s a given that you’re going to encounter a lot of rejection. Remember, do not take it personally. Begin each day with the hardest task, cal or conversation; therefore, everything after that will seem like a breeze.  This is a game of numbers, the more people you talk too the more people you will convert to a listing or buyer. “Keep on keepin’ on” should be your motto.