The facts don’t lie. According to the National Association of Realtors (NAR) a shocking 80% of new agents fail within the first two years.
What they don’t tell you is that of the 20% who remain, probably only 20% of those are making a decent six figure income. The rest are scrambling to survive on the crumbs that fall off the table.
I believe there are several factors that contribute to this abysmal success rate. Very poor quality, old-school training offered up by so-called real estate sales training ‘gurus’ flogging their outdated (and outright sleazy) sales scripts etc. Unrealistic expectations regarding the amount of work it takes to succeed. And poor people skills are just some of the reasons.
But one of the primary reasons for failure today is a lack of understanding of how to use technology to your advantage.
So how do you get a seat at the winners banquet table in 2017?
First of all by understanding that the very definition of realtor has changed dramatically over the past few years thanks to the internet. In order to succeed in today’s world you need to shift your mindset from seeing yourself as a realtor, to seeing yourself as a marketer. And specifically an online marketer. Because that’s where your ideal clients are hanging out and where at least 90% of them begin their search for a home.
Once you grasp that concept, the second step is understanding and applying just a few of the incredible tools at your disposal.
Here are just three of the absolute bare minimum tools you must be using in your business in order to succeed…
- a lead capturing website which entices visitors to leave their name and email address in exchange for something of value to them
Business is based on relationships now. The beginning of the relationship begins with your interactive, user friendly website. The relationship is nurtured through timely, ongoing communication with is focused entirely on the needs of the prospect. Long gone are the days when you can simply ‘brag’ about yourself and your track record via your advertising (“everything I touch turns to SOLD!” (“#1 Agent Since 2014!”) and then show up for a listing appointment with your bag of tricks such as pre-canned sales scripts, pre-scripted comebacks to overcome objections that you’ve memorized and a traditional Listing Presentation.
- an auto-responder email service which automatically sends out a series of pre-crafted emails designed to nurture your relationship and build trust with your prospects
- a Contact Management system which records and organizes all of your communications and interactions with your prospects as you move them towards becoming a client through your marketing funnel
The bad news is if you are not employing at least these basic tools in your business, you are doomed to fail. Period.
The good news is…thanks to huge advances in technology all of these tools and services are available in a ‘done for you’ format. All you need to do is invest a relatively small monthly fee and you’re off to the races.
The other good piece of news is, just like in every other industry, if you are the new kid on the block you can easily compete with…and beat…other agents with many more years of experience than you but who are not utilizing technology in their own business.
There’s no reason why a brand new agent, or an agent who wants to take their business success to a whole new level, can’t achieve amazing results in as few as 30 days.
However it’s important to mention that the latest whiz-bang piece of technology will not do the work for you. There are awesome tools at your disposal. But they are exactly that…tools.
YOU still need to put in the work.
But with the right training, tools and a little bit of effort, the sky is the limit!
William (Bill) McIntosh is a Luxury Home Broker on the French Riviera, an Author, Trainer & Success Coach.
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