Transaction Coordinators
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5 Strategies to Grow Your Real Estate Business
Growing your real estate business in your hands. Consistency with these strategies will grow your buiness, and help you bring in more revenue next year.
Madison Clifton
Jul 9, 2020
If you have the goal of increasing your revenue every year, investing the time and energy to grow your real estate business is crucial. Growth is in your hands. There are several strategies you can implement to help you reach more clients and close more deals, you just need to commit to them.
1. Improve Your Time Management
Your time should be spent doing tasks that are productive to the growth of your business. Unfortunately, you are not able to realistically commit to that goal doing everything on your own. Every transaction you represent comes with a mountain of paperwork and administrative tasks you are responsible for completing. While these tasks are essential, they do not directly contribute to the expansion of your business. However, with proper time management, you won’t be doing any of these tasks yourself.
A transaction coordinator is someone who manages all the paperwork and administrative tasks associated with a transaction. You have many options when it comes to hiring a TC, so you will easily be able to find one that fits your business. With a TC you will gain back an average of 16 hours per transaction. You can then dedicate that time to a multitude of tasks that would be beneficial to the growth of your business.
What would you do with an extra 16 hours?
Spend more time on the things that matter most.
2. Embrace that Real Estate Has Become a Game of Speed
Excellent lead generation tactics and expansive market knowledge are great, but they aren’t the only skills you need to be successful in real estate. You need to be quick to answer your phone if you hope to climb the ranks in the industry. Responsiveness, and exceptional communication have become a high priority for clients. Without these skills you will not be able to procure the clients you intend to, even if you excel in other skill sets.
Never underestimate the need for speed. Work to get your response time down to seconds and you will quickly see the benefits.
3. Let Go of Your Insecurities
As a real estate agent you must be extremely proactive and confrontational in order to get your name out there. You should constantly be giving out your business card, and reaching out to homeowners in your service area. If you are talking to enough people though, you are bound to get rejected, and encounter a couple of unpleasant people. The fear of failure and rejection runs high in a majority of people, but you can not let that discourage you.
Confidence is key in real estate. Buyers and sellers are trusting you with their biggest asset, and to trust you they need to see that you more than trust yourself. So portraying confidence when talking to anyone is absolutely necessary regardless of how any previous interaction may have gone.
4. Always Be Asking for Referrals
Referrals are essential when growing your real estate business. They result in a substantial amount of business, so outright asking for them is never a bad idea. There are many ways to approach this, and some ideas would be:
- Offer a referral gift to your clients
- Send a thoughtful card or housewarming gift
- Create an easy place to give referrals on your website
Try a combination of different ideas and see which one yields the best results. Positive reviews and referrals can single handedly support your business, and are vital to the continued growth of it.
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5. Step Up Your Social Media
Constantly keeping up with your social media accounts may seem like a daunting task, but it can make all the difference when it comes to growing your real estate business. Just by using one platform you are able to cultivate relationships with clients, promote yourself, share content, drive leads, and more for free. You can also invest in a couple low cost ads targeted towards your service area. The opportunities are truly endless on social media. So, if your accounts are not updated, and you are not posting on a regular basis you are severely limiting yourself.
To step up your social media accounts, consider these content ideas:
- Make posts congratulating your clients on their new home
- Virtual open houses
- Personal life updates
- A blog post about your predictions of the market after COVID-19
- A letter to people considering going FSBO and how you could help them
- Promote stats from reputable organizations about the market
- Review of a restaurant or hot spot in your service area