What is the best thing one can do to keep a steady flow of business coming in to avoid the ups and downs in this business?
This month’s question was submitted by Jerry Alumbaugh of Re/Max Atlantic:
“Be consistent! Be consistent in your level of service and be consistent in your sales actions. Sometimes when the business is really good, we get excited and focus on this steady stream that is good, but we can’t forget those sales actions. In our line of work, if you miss your sales actions for a couple of weeks, you’ll feel it in 30 days for about 30 days. Keep it consistent.”
- Aleia Haney,
Beckman Mortgage Company
“Studying your business and recognizing where the ups and downs generally fall. Increase your marketing efforts the month or two prior to help fill the gap!”
- David Wakefield,
CTX Mortgage
“Well, I can only speak for the mortgage side of the business. But, I’ve found that it’s a good idea to have not only Realtors with whom I work; but also work at a condo site. That way, when Realtor business is slow, the condo sites provide the ‘bread and butter’ and vice versa. This keeps an even flow of business when the existing homes business is slow.”
- Carolyn Minor,
Wells Fargo
Home Mortgage
“The best thing an agent can do to avoid peaks and valleys in their business is to continually prospect. A successful agent will keep their schedule of prospecting and schedule the other activities in between the sales activities.”
- Julie Knowles,
Premier Properties
Realty Group
“Prospect! Prospect! Prospect! Whether business is great or average, the importance of daily prospecting and keeping in touch with my database is the key to continued business. Nothing else has produced better results.”
- Phyllis Staines,
Re/Max Coastal
Real Estate
“Building an annuity based business with repeat customers, referrals from previous and current customers. The more referrals, and repeat customers you can build the larger your business will grow. Giving quality customer service to each customer will ensure referrals, and repeat business. This can really help when business is slow. When business is slow you will still have your client base returning to you, and referring you business. Customer Service is top on my list for keeping a steady stream of business. “
- Colette Horne,
Wells Fargo
Home Mortgage
“There will always be ups and downs in our business! [just as in life] So, the best thing to do is accept that fact and not get depressed or panic. Be happy and healthy - do your best and do what you say you are going to do. You will be up again!”
- Holly Boyett,
Buy OceanFront
Realty, LLC
“The best way to keep business in the door is to out service your competition and more importantly, give the client more service than they expect. Many Realtors and lenders say they offer better service than the competition but the true judge of ‘Raving Fan’ service is your clientele. I can tell when I am giving top quality service when past customers come back to me for their future needs. If your past customers are not referring their family, friends, and business acquaintances, then you are not giving ‘Raving Fan’ service. Advertising and marketing are fine, but the best generator for a continued flow of business is referrals and repeat customers.
- Robert Fleischmann,
SunTrust Mortgage
Corporation
“Keep in touch with your referral sources, rain or shine. This business has busy and slow time so have a little in savings to help you with the slow times. Don’t have a pity party when business is slow.”
- Jacqueline E. Parrillo,
Mercantile Bank
“You certainly can’t control the flow of business, but you can control getting a shot at what is out there. Stay in touch with people you know and listen for opportunities!”
- Clare Berry,
Berry & Co. Real Estate
“Easy two-word answer - continuous prospecting. Many agents stop prospecting as they get busy ‘doing the business’ they have some sales or listing and turn their entire focus to the business and hand. Closing comes and the next day they have not business. A successful agent works the business of prospecting even more when they are busy to keep that pipeline full. You cannot ignore your future business because you are busy today, or you will be out of business after every closing. Be a rainmaker and keep the business coming in.”
- Sheron Willson,
Prudential Network Realty
“In my opinion, local Realtor cooperation is the best defense a site agent has against ups and downs in the market. Nurturing and maintaining strong relationships with local real estate agents is vital to my current and future business. Dealing with agents and their customers fairly and honestly is an absolute necessity. If local Realtors have any question concerning my [or my developers] integrity - they will not risk their own reputations by sending prospects my direction. So my future success hinges on my making the outside agent and my project, not always in that order, look their best to the buyer.”
- Andie Pennell,
Key Realty Advisor’s
“I think the best thing one can do to keep a steady flow of business coming is to stay in touch with past customers and referrals will come.”
- Paul Wilson,
Watson Realty Corp.
South Beach Office
“Build your business so that people are so pleased with the service that after several years your business grows by word of mouth. This will work in any business.”
- Jerry Alumbaugh,
Re/Max Atlantic
“Stay in contact with your sphere of influence, whether it is personal calls or by mail. Friends, relatives and past customers can certainly help you stay in business!”
- Josie Deal,
Coldwell Banker Amelia Island
“Techniques vary from area to area. In a resort community such as Amelia Island, floor duty generates quite a few leads, especially with our office located on A1A across from the beach. I use the 4F method to generate business: farming, former customers, floor duty and follow up.”
- Tom O’Connell,
Watson Amelia Island.
“Constant marketing and networking. Keep in contact with referral sources.”
- Wally Sears,
Wachovia Mortgage Corporation
“The best thing one can do to keep a steady flow of business coming in to avoid the ups and downs in this business is to continuously prospect. Never make the mistake of resting on your laurels. There is no better time to generate new business than when business is good.”
- Bart Hinson,
Colliers Dickinson
“Be consistent with your prospecting and follow up!! On the new construction side, network with Realtors! They have qualified buyers that are ready, willing and able.”
- Linda J. Moore,
Harmony Homes
of North Florida
“Try to diversify clientele to cover all aspects of the business or market. Don’t have your eggs all in one basket.”
- George Kabase,
Boney and Johnson Appraisers
“Buy income producing property so you have rental income. Your tenants eventually pay off your properties!! Keep doing something a little different each year. Find your niche, but stay educated through the Northeast Florida Association of Realtors and Northeast Florida Multiple Listing Service. Stay in touch with your customers. Wear a name tag. It helps people who do not remember names, and also over the years, people have new ‘looks, so a name tag works! Find a mentor, and watch closely what they do, then model your behavior accordingly. When the market slows down, hang in there. There are a lot of members in NEFAR that have been selling and buying real estate for a long time. They are a wealth of information. In the ‘slower’ markets, they have time to help you!”
- Jenet Cattar,
Cattar Realty
“We have all been fortunate in this market. However, when things get slow, it is important to get back to the basics. Do open houses for others in your office. Call all your friends and family to remind them to refer your name. Think positive and know that you are good at what you do. Go to the other agents in your office and offer your help. You never know, they may need you to assist them while they are out of town or extremely busy. Be available, there is always business. You just need to be there. Good luck!”
- Patti Martin,
Ponte Vedrs Club Realty