Are you experiencing the infamous highs and lows of what I call the “sales rollercoaster”? This thrill ride can bring a flurry of deals that take up almost every waking hour, followed by the sudden sound of crickets because all the deals are done and business seems dry. When I encounter real estate agents, both rookies and veterans alike, who are on a sales rollercoaster, I ask a few questions about their lead generation tactics to help them build or regain momentum in their business.
These questions are based on my years of professional experience and research that studied some of the RealTrends + Tom Ferry The Thousand top producers. From this research, I found some duplicable success tips that are at the crux of the questions I pose to agents on the roller coaster.
How many lead generation groups do you use weekly?
Our peer-reviewed data found that the sweet spot for lead generation groups is at least five. The word, “group,” is key to this question. Some people will say, “I do five lead generation activities because I post on Instagram, TikTok, Facebook, YouTube and Twitter.”
My response: that is only one group of lead generation — the social media group — and you need four more.
Of the lead generation groups you use, which fit your personality?
Some lead generation tactics might be great for other agents, but they don’t work for your style. For example, some people are dedicated to going to networking events although they timidly stand in the corner sweating. There are over 70 ways to grow your business, and only about 5-7 are truly needed, so why do an activity that does not fit your personality style? Keep this in mind especially if you are a “solo-preneur,” meaning you have to be very strategic and intentional about your limited time. Check out more about how to prospect and “Profit with Your Personality©” with this recent Real Trends podcast.
Try at least five lead generation activity groups based on your personality that you will employ weekly to grow your business.
Weekly is key, even if you have to automate some activities in the background. For example, you can pre-schedule six months to a year of postcards or other types of mailers, particularly on “evergreen” topics like tax season, holidays, etc.
Are you a fair housing advocate who seeks out clients from all walks of life?
Citi, The Brookings Institute and other studies have found that billions of dollars have been lost in our national economy due to discrimination of legally protected classes. These classes can include those with disabilities or differences in gender, race, religion, familial status and national origin. And these discriminations are also affecting the local economy.
Expand your database by connecting with organizations that support various protected classes. Rely on one, or all, of your lead generation groups for this outreach. For example, explore becoming a member of the National Organization on Disability, your local chapter of the National Association of Black Accountants or other organizations that support the protected classes. Be their go-to for all things real estate.
We never say who we work with or who we do not work with. Our motto is “come one, come all.” That means real estate agents must to avoid creating an ideal client or target profile. Instead, we should share our specialities and use them in service of organizations that support the greater good. Pursuing fair housing for all, actually helps to build communal wealth and our own legacy simultaneously.
The top producers I’ve studied from the RealTrends + Tom Ferry’s The Thousand are all able to answer these questions, diversify their lead generation groups and play active roles in the affordable housing community.
Lee Davenport, Ph.D. is a real estate coach and consultant who specializes in fair housing.