CEO of Camping World and prolific businessman focuses on three things to run a successful business. These are people, product and process. The reality is, is that if you undertook this approach and analysed your business you most likely would be able to increase productivity and ultimately make more money. The main reason that people fail in real estate comes down to poor planning and lack of structure, therefore you need to implement these three P's to start making more money.
Product: Before you go and get a listing out on market, it is essential you take a few steps back and look at what it is you are actually selling. A home. Not a house, not bricks and mortar, but a home. There is a very big difference here, as a home is something that people buy emotionally, a house is something that people buy as an asset. When people buy with emotion, they focus on the intricate details and forecast how they are going to live their lives there. To make sure your product sparkles there are a few things you need to do.
- Get the house in a beautiful condition: Selling a home doesn't mean that you as an agent, need to instruct the vendor to spend lots of money, but it is your duty as their agent to ensure the house is in the best possible condition once it gets displayed to prospective buyers. You need to provide to your vendors an automated group of services that you can offer to come in and clean up their house. This should include a cleaner, a stylist and a removalist. These three people will make sure the house looks immaculate and shows it off in the best possible light. It may be an expense incurred, but the value will be reaped come sales day.
- Product description: How you describe the product will have a large bearing on how many people bite at the cherry. It is essential that you really understand the key selling points of the house, and convey it in a clear and concise manner when it comes to advertising your property. The listing description should follow a format that encompasses the features and benefits. If you want further tips on how to write a listing, read here
A sample of a great listing image:
Process: Having a good process when it comes to managing listings is essential to be successful, and the main reason is it will help in saving time. Anyone can make money as an agent if they have endless time to make calls, follow up and pitch for listings, unfortunately, your time is limited, and therefore you really need to have good processes.
Each prospective client should follow a funnel and it should go something like this:
STAGE 1- Prospective client interested in selling a home.
STAGE 2- Appraisal and pitch to win the listing set up.
STAGE 3- Pitch put to them.
STAGE 4- Follow up from pitch.
STAGE 5- Commence analysing prospective buyers and contact prospects.
STAGE 6- Start marketing the property.
STAGE 7- Build your pool of leads and follow up.
STAGE 8- Sell the property.
(This is just a guide and not hard and fast as a rule)
If you don't follow a process like that, and you are missing some steps in here, then there is a chance that a lot of your listings are hitting road blocks at some stage. It may mean that in your processes you want to add in some further steps to provide further value and also build more rapport. To be a successful agent, you should have systems for everyone of these steps, so much so that after you have pitched to your client, you have a follow up email saved as a template that can be sent to the client to save you time in writing the content and increase your efficiency. Each step in this larger process needs to have specialised actions that you will take once you get to the next stage.
People: This is the most important part of automation in your sales process. You need people along the way to keep your systems in place and make sure you are well managed. The people you need around you are:
- Admin/support- Someone who can oversee emails/ etc.
- Receptionist/Message taker- Someone who can take messages and categorize them
- Marketing support- Someone who can assist in building your brand and creating local content for you. Also work on weekly emails and marketing updates.
- Sales assistants- A lot of agents work hard by themselves, but can get double as much done with a partner. A good partner that understands you can be great for your business.
These people will be the most important people to integrate to your business, and they need to automate your processes in order to make you the most effective agent you can be.
About the Author:
Todd Schulberg handles all things marketing for Homely.com.au - Living and breathing property, Todd has a keen interest in the movements in the market and how agents can utilise new tools and technology in order to be more connected. Using all things social, Todd suggests different ways that agents can engage and think outside the square with their marketing approach.