2 essential strategies for your real estate business – RISMedia |
There are two real estate business strategies that any agent can use to close 24 or more deals per year, regardless of the market. The first is to generate your full income goal in four different ways, and the second is based on the premise that consumers want to do business with people they love, trust and respect. By staying at the forefront and building meaningful relationships, your income will be consistent month after month as you produce a constant flow of referrals and a constant stream of income leads to long term wealth building.
The 4 pillars (sources) of income
Whether you are a new agent or have years of experience, developing income pillars to support your business is essential to your growth. Relying on a single pillar often leads to failure and a lack of income. A shift in the market, regulatory changes or a relaxation of this particular pillar could have dire consequences. However, developing and working on four pillars will ensure a successful business, and when the market changes, you will have more than one way to adapt and generate income.
To develop your pillars, start by identifying the four sources of income that you would like to pursue and work each as if it were your only source. Mainstay choices include your SOI, expired listings, FSBOs, online lead sources, social media, geographic farming, and new builds. While there is no shortage of lead sources, the challenge is to identify the four that you can be most successful with. Develop your marketing strategy for each pillar of income and take massive action (i.e. lucrative activities like prospecting, prospecting, and more prospecting).
Top 50 program: 86-50-1
My eBook “86-50-1” describes the exact process Master Coach Mike Coke used to nurture his relationships to such a high standard that he was able to generate massive returns for years to come. The concept is all about personal connection. Our relationships are our most important assets, and the relationships we have generate more business and more profitable income than anything we do. That’s why we spend time, resources, and money buying things like contact management systems or building our own.
Good habits in managing your relationships and a routine of productive dollar activities will help you create consistent income without the peaks and valleys that can be caused by market circumstances. By adding simple strategies like these to your arsenal, you can build a business that thrives regardless of the market. For instructions on how to incorporate these powerful strategies into your business, email [email protected], and we’ll help you implement them in no time.
For more information visit www.WorkmanSuccess.com.