Growing your real estate business requires the right plan and the right team. For most agents, it starts with choosing the right real estate broker. Whether you prefer someone willing to help you or you prefer your freedom, the right broker will help set you up for success.
With the real estate industry attracting fierce competition, you need to be on top of your game. Your real estate business needs to be nurtured properly. Here are some of the top tips to help you grow your real estate business faster and easier.
7 Tips for Real Estate Business Growth
1. Master Time Management
One of the most important things any real estate agent can do is master time management. A huge part of the job is juggling appointments, phone calls, meetings, and other tasks.
Without great time management skills, it can be difficult to find the success you desire in real estate. You’ll have a to-do list that will never end and will likely continue to grow.
Your real estate business needs you to stay focused. With good time management skills, you can move forward and grow your business faster. Trello is a good organizational tool you can use to help keep things on track.
2. Hire an Assistant
There are several tasks you can use an assistant for, from returning phone calls to setting appointments to social media marketing. When you hire an assistant, it will help you free up more time for your clients.
In today’s world, you don’t have to hire an assistant to work in an office for you. You can hire an assistant to work from home or even a virtual assistant.
Hiring a virtual assistant may provide even more benefits than a traditional assistant. With most VA firms, you get a team of virtual assistants working for you when you need them. You only pay for the hours they work and you can increase or decrease the hours based on your specific needs.
3. Ask for Referrals
If you’re afraid of asking for referrals, it will be difficult to grow your real estate business. A study from OutboundEngine found about 75% of real estate business comes from referrals and word of mouth advertising. This means you need to ask for referrals if you want to grow.
Buyers and sellers want to know their real estate agent enough to trust them. If you ask for referrals, you’ll gain clients that already have some trust for you because someone they know vouched for you.
There are several ways to ask for referrals. You can use referral gifts, use your website to ask for referrals, and even give your clients gifts. If you want to grow your real estate business fast, make sure you always ask for referrals.
4. Follow Up, Follow Up, and Follow Up Again
A good rule of thumb with leads you get online is to follow up until the lead becomes a client or they unsubscribe from your list. With the right CRM system, you can pretty much automate this process.
When someone signs up and becomes a lead on your website, they will receive emails from you automatically, per your instructions. Whether you’re sending helpful information or just updating them on your current listings, keeping your name in their inbox gives you a better chance of getting hired.
Lead follow up is often more powerful than generating new leads. You should spend the majority of your time cultivating your current leads and a smaller amount of your time trying to find new leads.
5. Have a Plan for Networking
Just showing up at Chamber of Commerce meetings and other local networking events won’t help you grow your real estate business fast. You have to have a plan for networking.
Yes, going to the events should be a part of your plan, but it has to go further. It’s a good idea to set a few goals for each networking event. Then, focus on achieving those goals and talking to the right people that can help you grow your real estate business.
Networking is a very powerful way to find new clients in the real estate industry. However, if you try to network without a plan, you won’s see the same results.
6. Use Social Media
One of the very best ways to generate leads, build your brand, and create a successful real estate business is through social media. Facebook, Twitter, Pinterest, Instagram, and many other social media outlets are great for marketing.
You want to use social media daily and work hard to build your business online. You can share live video tours of new homes, all your listings, every blog post, and other things throughout your day.
Some of the ways you can use social media to grow your real estate business include:
- Daily Instagram stories
- Instagram posts from new listings/sold listings
- Video tours of new listings on Facebook
- Sharing blog posts when published
- Congratulating new homeowners on Instagram/Facebook
- And more!
Along with the free ways you can use social media, you can also boost your listing posts on Facebook and other outlets for a low price. Boosting your posts will help you gain more followers and more leads.
If you haven’t started using social media yet, Facebook is a great place to start. Instagram is another good choice for those in the real estate industry. Of course, the visual nature of Pinterest can be very powerful and some agents even find good success on Twitter.
7. Choose the Right Broker
Your broker will make a pretty big difference in the success of your real estate business. If you’ve been an agent for a few years, you might already know how one broker can differ from another.
You’ll have the choice between a traditional type of broker with a brick-and-mortar office or an online broker. Elite Agents is an online broker giving you the freedom to work how you prefer.
With an online broker, you will likely make more money and keep all of your commissions. Make sure you take the time to compare both types of brokers and choose the right one for you.
When you partner with a real estate broker fitting your business model, you’ll be able to grow your real estate business faster. The wrong broker can sink you just as fast, so take your time and be careful when choosing a broker.
These seven tips will help you grow your real estate business faster. If you want to grow to the next level, consider these tips and consider the broker you’re currently working with.