Save Time With Systems

One thing that we know for sure is that a business person that implements systems into their daily structure will always out-produce those agents that lack systems.

Today, I want to discuss a few simple systems that can be put into place that will allow your business to run more efficient therefore, more profitable.

Let’s start by looking at the most important aspects of a real estate business. The following areas are important because they are typically the areas that drive revenue to your business.

1. Prospecting

2. Lead Follow Up

3. Listing and Buyer Presentations

4. Price Reductions

5. Negotiations

6. Building Advocates

Let’s take a look at Prospecting:  Most agents do not look at prospecting as a system. This is a big mistake.

a.Prospecting starts the night before.

1. Start by making a list of your top 10 leads. Do this at nighttime.
2. Get to the office by 7:45 and make sure that you everything you need to call those top 10 leads and any other areas like Rentbo’s, COI ect..
3. Schedule your prospecting at the same time everyday. Start at 8 is. Remember, rituals are profitable.
4. While prospecting, focus on generating business. Stop letting your mind wonder. Prospecting time is your time to build your business, don’t let anything distract you.
5. Do not co-mingle activities. This is not the time to do follow up or any other activities that are not prospecting.
6. Remember, prospecting is nothing more then talking to people who are interested in buying or selling real estate. Real Estate is a conversation.
7. Your prospecting system is the Schedule.

Lead Follow Up – Like prospecting, lead follow should also be looked at as a system.

a. Lead Follow up should always begin after your prospecting.

1. If you are prospecting until 10:30 then start your lead follow up at 10:31.
2. In addition to the morning lead follow up, your system should include follow up during different time of the day. Follow up at 10:30, 1:30, and 6:00. Make sure that you make 3 attempts to talk to everyone of your leads. This market is very competitive and if you do not get to them fast, someone else will.
3. Your lead follow system is the Schedule.

Listing and Buyer Presentations – Once again, this is an area where most agents do not follow a system. Big Mistake.

a. Every presentation that you make form this day forward should be systematized.

1. How do you prepare for your presentations?
2. What do you say during your presentation?

   Remember, every presentation is the same with the exception of the price of the subject property and maybe the way that you build rapport with the customer or client.
   

3. What is your closing technique?
4. A successful presentation system is one that is robotic to you yet feels natural to the client/customer.

Price Reductions – Any attempt at getting reductions is fantastic yet there is systems that can increase your reductions therefore increase the profit you make as a business person.

a. Follow this system

1. Go ahead and block out time each week that you will do nothing but price reductions.
2. If you are doing reductions on Wednesday, then send an email or make a call to your seller asking them where they can be reached at a particular time to discuss their property.
3. For those that respond, place them on your schedule to call them at that time.
4. The day before you call, go ahead and do the research on your listing as if you were going to list it all over again and discuss the changes that they need to make in order to get their property sold soon.
5. The reduction system is simple yet without this structure, it never gets done. This is where you make your PROFIT.

Negotiations – When an offer comes in, most agents get excited and call the seller right away. Big Mistake.

a. There is a system, even for negotiations

1. When you get the offer, call your seller and say the following, “Mr. Smith, I needed to give you a quick call and let you know that I should be receiving an offer shortly on your property. I have not reviewed the offer yet so I am not sure what the price and terms are yet I wanted to see if you would be available at 2 pm today to discuss?” Set a time to call them back. The reason why I am doing this is to allow the seller or buyer time to think about the property being sold. As soon as they hear that an offer is coming in, they tend to revisit why they are selling or buying. We want them to get present with the possibility that working this deal out means they will be able to reach their goals.
2. After you have set the appointment to call them back, go ahead and update your research to make sure that you know if any other sales have been made that will support the offer price.
3. Write all of the details out on a piece of paper and follow your negotiation scripts.
4. Following this system will dramatically increase your success rate in negotiations. Also, remember to always get a reduction on the listings that you do not successfully negotiate.

Follow Up with your Listings – Following up with your current clients have never been so important. To do this correctly takes a lot of time.

a. HomeFeedback.com

1. If you are not using it then you are missing the boat. The system only costs you about $20 per month yet will save you hours and will make your clients happy.
2. HomeFeedback.com will not only send the feedback to your seller yet it generates and email from the showing agent to you which gives you the opportunity to say thank you to the other agent for showing your listing. This type of communication with your fellow agents will pay high dividends in today’s market environment.
3. Keep it simple and sign up.

Building Advocates – How do you create Advocates? Let them know that you are thinking about them and that you are there to provide solutions for those needing help in the area of real estate.

a. It has never been so important to be in communication with your COI and past clients in addition to building your COI database.

1. Stop sending thank you notes over text.
2. Stop sending thank you notes over email
3. Stop forgetting to give people a call to say thank you.
4. You have to start sending thank you cards immediately. A personal note saying thank you to those that have done something for you will go so far. People need words of encouragement these days. I am getting referrals from people I have never gotten referrals from since I have been using Sendoutcards.
5. The system is simple…someone does something for you, you send them a thank card

   a. An agent sells you listing – send a card
   b.Your buyer closes – send a card
   c.The inspector give does an inspection – send a card
   d.An agent calls you to tell you something is wrong on your listing – send a card
   e.You receive a referral – send a card

6. If you want to receive professional pay then you must stop acting like an amateur.
7. Start using the sendoutcard system or start your own system. I suggest that you use a system that is proven to work and is very efficient.

I hope that you find today’s call helpful.

I want to leave you with one final thought…You must work like a Robot yet feel natural to the consumer.