It’s all about controlling your lead generation and follow-up activities.
If you’re ready to do it, here’s what it’ll take:
1. Do you have at least one niche where you are perceived as the expert?
Top achiever normally has one or two niches where they are the recognized expert. If you haven’t decided upon a niche for your business, do so now.
Niches can include geographical areas or market segments such as relocation, probate, or new properties. They can also include serving seniors, families, single women, etc.
To determine which niche will generate the most return for you, identify which types of sales generated the most income for you in 2017 and niche your business there.
2. Can you accurately price properties without looking at the comparable sales?
Because top performers have a deep knowledge of the inventory, they can usually price properties without looking at the competitor prices.
When viewing property, estimate the selling price before looking at the list price. Track where listings sell and how accurate your predictions were.
Remember, knowledge is power.
3. Do you price your listings close to where they sell?
Top performers price properties accurately. To evaluate your performance in this area, look at the last 10 properties you sold.
4. Are you obtaining a full commission on at least 80 percent of your selling?
Top performers earn full commissions, to increase your commission rate, determine what services will motivate buyers to choose you over competitors.
5. Are you strong enough to stand up to the business manager when He/ She are wrong?
Top performers recognize that they are the real estate experts and speak up when necessary. If you feel uncomfortable doing this, consider taking a negotiation or an assertiveness training class.
6. Are prices in your area increasing, decreasing or stable?
Top performers know the market statistics cold. To determine what type of market you are in, look at how much inventory is on the market.
If there is less than six months, you are in a seller’s market with upward pressure on prices. If there is seven to nine months of inventory, you are in a Stable market.
If there is more than nine months of inventory, you are in a buyer’s market with downward pressure on the prices. You can have buyer’s and seller’s markets in the same area.
7. Do you have ready business plan?
Virtually all top performers have a written business plan. They know how many must close each year to hit their goals. They also monitor and control expenses. If you need help creating a written business plan, consider taking a business planning class and/or hiring a coach.
8. Do you contact previous clients?
Today it’s easier than ever to stay in contact with your clients using the social media.
Send a video email to wish them a happy birthday or happy-anniversary-of-buying-their-house.
Although technology is also important, being face-to-face contact at least twice per year is critical if you want to generate on-going referrals.
9. Do you have excellent problem-solving skills?
Top performers have excellent problem-solving skills. When they need answers, they know whom to ask. Most are also good at being the calm in the middle of the storm.
10. Do you follow up on all leads in a timely fashion?
Top performers rarely let a lead get away. If they are unable to respond immediately, they have a system in place that addresses this issue.
11. Do you delegate?
Top performers recognize their strengths and weaknesses. They focus on what they do well and delegate everything else. If you are too busy, ask yourself what you could have someone else do.
Easy places to start are using a transaction coordinator, having someone drop off keys and brochures, or having a personal assistant who handles errands. Use the time you save to prospect for new business.
Ultimately, top performance is about controlling your lead generation and lead follow-up activities.