Winterizing Your Real-estate Business

Winterizing Your Real-estate Business, by Rick Guthrie

Thanks for getting back onto my blog. Over the next few blogs, I’m going to be writing about winterizing your real estate business. Usually, I that find production starts to fall off during the winter months and into the first quarter. I’m sure you’ve noticed, I said production not business. It’s usually a combination of mindset and gentle market shift that effects production. As with anything we do, we need to refocus our mindset and double our efforts if we want to increase our production throughout the winter. This is what we’ll focus on in winterizing your business.
Winterizing your business

Each blog that I will be writing in this series, winterizing your business, will be at specifically based on one focus that has a desired outcome. So stick with me as we will be going over eight different concepts in eight different blogs.
For today’s blog, on winterizing your real estate business, I will be talking about doubling your database entries. As we all know, statistics tell us that between 65 to 75% of all of the real estate business comes from referrals. In other words, the real estate agent was referred by someone or a person had used the agent in the past. So the numbers tell us that doubling your database entries gives you more opportunity for referrals. The numbers also tell us that every six database entries should net you one sale. So let’s talk about just 2 ways that we can increase our database entries.

Using the MREA method, let’s focus on;

  1. Your Core Advocates
    2. Your Allied Resources

Your Core Advocate Group Your core advocate group are those top nine or 10 people that would stand on a street corner and yell at the top of their lungs, that if anyone had a real estate need, they would need to choose you as their real estate professional. If you have to sit and decide whether or not somebody is a core advocate, they’re probably not. So what we want to do is go to our Core Advocates and practice my rule of nines. You will say to each of your Core Advocates; “Please help me, by asking your nine closest friends, if they would be willing to receive some real-estate information from me from time to time. Of course your Core Advocates should immediately be willing to help you. If you collect nine data base entries, from nine Core Advocates, that’s 90 in your database. Your focus is winterizing your real estate business. This is a quick way to grow your database with people who are willing to help you grow your business. To me, this should be your main and most important focus. Not only are you winterizing your real estate business you are ensuring that you have stable business for years to come.

 

Allied Resources are those people that you spend money for their goods and services on. It’s time for them to help you through the winter season. This could be your insurance person, doctors, lawyers, hair dressers, barbers, restaurateurs, plumbers, contractors and so on. You would be surprised at how many people you know that appreciate your contribution to their livelihood. These folks need to be data based in their own category and you need to ask them for help and remind them that you are a Real-estate professional.

 

In summary to get through the winter months one of the first things that you should be focusing on is feeding your database twice as much as usual. Sheer physics and math dictate that you should get twice the results. Go to your Core Advocates to help you grow your data base through my Rule of Nines. Also, continuously ask your Allied Resources for referrals. Hey you’re helping them through the winter, they should help you.

 

So let’s all get out there and start Winterizing your Real estate business.

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