Being informed about what makes a business successful, how large your database should be, and how to sharpen your selling skills is the difference between the agent in survival mode and the one who’s thriving. What’s the best way to connect with online leads, phone or video? Do referrals and repeat business signal how healthy your business is? And how important is empathy in real estate? On this episode, we talk about tips from sales books and phone consultations, and we reply to some of your questions.
Every business that is healthy will generate referrals and repeat business. - Matt Johnson
Three Things We Learned
The ideal size of your database
The size of your database is determined by the type of agent you want to be. For example, if you want to be a referral agent, 1000 people is enough. But a prospecting agent needs a lot more because their conversion rate will be smaller.
Have empathy towards your clients’ lack of knowledge
People often make bad decisions because in the moment their current knowledge seems like a good idea. Not everyone has the time or the resources to research the market and think like a real estate agent. And as an agent, you shouldn’t look down on the decisions of your clients. Instead, you should treat them with empathy and serve as a reliable resource for them.
Use video to get in contact with your leads
Do your best to convince your leads to have a video call with you. If they feel uncomfortable about that, you can send them a video message. Whatever it is, make sure you use video so they can attach a face to the voice. This way, it will be harder for them to forget about you.
Every good business, when healthy, will generate referrals and repeat business. If you don’t invest in client retention programs, the percentage of clients that come from referrals will be smaller, but you will still have some recommendations. This occurs because a good service or product will be appreciated anyway, especially if your competitors don’t deliver the same value or the same price. If you don’t have any recommendations or repeat clients, you should consider tweaking your business, because your clients aren’t satisfied.