Chapter of The MREA: Part Two – The Four Stages: Implementing the Models – Listings
Seller listings are a crucial element of moving your business into Net A Million, as they increase your exposure while generating more seller listings and buyer leads. In building the seller aspect of your estate agency, you must consider these four challenges.
1. Knowing The Minimum Number Of Seller Listings You Must List Each Month
You must be continually tracking your numbers and goals each month. As the market shifts, you need to pay attention to what numbers you need to hit to stay on model and on track to Net A Million. Knowing the minimum number of properties you need to list each month will inform how many appointments you need to hold, and in turn, how many leads you need to generate.
2. Listing The Minimum Number Each Month
Knowing your goals is half the battle. You truly win when you achieve those targets consistently. This will require determination, humility, and the ability to learn from failure. You will be fortunate if you coast through life without failing along the way. Your ability to reflect and bounce back from your shortcomings will define your business in the long run. Are you missing your targets? Work backwards to see what numbers you aren’t hitting in your pipeline. Overachieving? It might be time to evaluate your goals and push yourself into higher levels of success through creative thinking and leveraging people, systems and tools.
3. Getting Sellers To Accept The Team Concept
When dealing with a high-street agent, customers know exactly what to expect. An introduction to the self-employed model can be daunting for some customers; it is the job of you and your team to get them onside with your business model. As your team expands, each new member needs to know how to effectively communicate the benefits of your business model to your clients.
The idea of “personal service” can be easier to digest when dealing with a single agent; your challenge is to ensure your client that you provide an even deeper level of personal service because of the team that surrounds you. Just because a client may not be dealing with you directly in every instance does not mean that your team won’t take the same pride and use the same experience to sell their property. Gary Keller likens this experience to dealing with a surgeon, who will have an entire team assisting pulling towards the same goal, directed by the surgeon. You can still involve yourself in delivering a deeply personal experience to your clients. Still, you also need to leverage the right talent who are capable of doing the same independently.
4. Consistently Marketing Your Seller Listings For More Leads
Your marketing approach will be the difference-maker in building a bigger and better business. It is sometimes all too easy to fall into the mindset of “I need to get this property sold in as little time as possible” when in reality, there is value in ensuring every property you list has a strong marketing plan behind it. Consistently marketing a property will drive interest and generate leads that you can feed into your pipeline. Not only are you creating a backlog of interested buyers, driving the price of the property, but you are also generating new leads that are interested in the type of property that you are already selling. On top of this, an effective marketing plan will also capture leads interested in selling with you because your marketing is so effective. It’s a win-win to be conscious of your marketing strategy at all times across the listing process.
In next week’s issue of KiloWatt, we will cover the five challenges you will likely face on your road to Net A Million when creating Leverage using people, systems and tools.