By Michele Gillis, Staff Writer
In this new year, why not dare to be different and see what new things you could try to improve your business?
Jan Spence of Jan Spence and Associates, a local coach, speaker and trainer, has ideas as to how you can review what worked or didn’t work for you last year in real estate and how you can use that information to take your business to the next level.
First, Spence said it is important to desire to be different for 2013.
“Desire something different for this year,” she said. “Realtors are playing many more roles than ever before and the industry has changed. Along with that, things that have worked in the past simply aren’t going to work now. You have to look at things differently and dig a little deeper.”
When looking at goals for 2013, look closely at what worked and what didn’t.
“Many times people look at what they will do when setting goals for a new year, but in some cases it’s looking at what they will not do,” she said. “What do you need to let go of? What do you need to set aside that didn’t work or what is not as effective as it used to be? We all know the definition of insanity, which is doing the same thing over and over again expecting different results.”
The second step is discovering the destination.
“It really is all about their purpose, passion and vision,” said Spence. “It can’t be just about selling houses or getting a paycheck. Why are you doing real estate? Why are you in this field? What attracted you to this field in the first place? What energizes you on a daily basis and what really brings you joy? Have you gotten away from that or have you even found it?”
The third step is creating a course and daring to be different.
“You need to add your own spice to the recipe,” she said. “What do you bring to the table that sets you apart from other Realtors?”
She said to look at your history of attending open houses. Is the time, energy and money you put into them helping you sell houses or would online marketing be a better use of your time and money? It may be that they are gold mines for you or just a waste of time.
Spence said the next step is to seizing the start. It may be scary to do things different, but you will never know what works unless you start doing things differently and try.
If you have a special skill or talent, you can use that in your marketing as well, especially with FSBOs where the seller’s answering machine is full of messages and their door is inundated with fliers from Realtors. What makes you stand out?
“For example, when approaching FSBOs, instead of just leaving a card, use your talents to make yourself stand out,” said Spence. “Be creative. Go back to what your strengths are, what your passions are and what your niche is.”
If you like to sing, leave a singing message for the prospect. If you like to bake, maybe attach a cookie to your card or if you are into gardening, wouldn’t you stand out if you left a potted plant with your business card on their porch? It may seem silly, but it will be memorable. What can you find within yourself that brings you joy that you can do differently?”
Another tip: get back to basics. Go back to what worked for you in the beginning of your career that made you successful. Maybe you have gotten away from it.
In this New Year, it is also important to look at how you are spending your time and what that means to you financially.
“What is your hourly rate?” asked Spence. “Do Realtors really know their hourly rate?”
Spence said you need to analyze your activities and find what your income producing activities are and what aren’t.
“In some cases, that may mean outsourcing some tasks so you can focus on income producing activities,” she said. “See what things you can stop doing yourself so you can focus on things that are revenue producing.”
Things like filling out expense reports, reading trade magazines or envelope stuffing can be outsourced so you can spend more time on high revenue producing activities. Enlist family or friends to help on those non-revenue producing tasks.
“Those things are all important to your business but they aren’t direct income producing activities,” she said. “You can use the time to knock on doors or speak to someone about listing their house.”
As you go on your journey through 2013, the next step is to embrace the experience by celebrating little successes and readjusting along the way.
Controlling your time with prospects is also something to review.
When showing houses, Spence suggests setting an agenda and asking a lot of questions to find out how serious a buyer they are.
“Set an agenda and an expectation so it’s not an endless day of looking at homes,” said Spence.
Another time saver: when you get a phone call concerning a listing, ask questions first.
“Find out if they are kicking tires or are they really a serious buyer,” she said. “Tell them you are happy to give them information on the house but that you’d like to ask them a few questions first. Ask them where they live. Are they moving to the area? When are they planning on making a move?”
Questions like that allow you to find out how much information they actually need depending on their intentions.
Spence’s last tip is for Realtors to build relationships with people who would hear who is moving first.
Build relationships with moving companies, painters, flooring companies, attend garage sales, get to know the local lawn men and just keep your ears open for potential prospects.
“Remember to pursue the purpose and keep on plugging away,” she said.