Want to Grow Your Real Estate Business? 4 Goals to Set this Year
January is the perfect time to set your goals for the coming year.
Just sit down with a notepad and a calendar, and start mapping out where you want your business to go. Do you want more commissions? More business? Better efficiency? All of it is possible with the right forethought and planning.
Have you set your goals for 2022? Here are some you might consider — and how to make them happen.
1. Get more listings.
If things have been slow the last few years, you might choose to increase your listings — or the number of buyers you represent.
There are many ways to go about this, but a few of the best strategies include:
- Creating more content: Publish blogs, create market snapshots, and start an email newsletter to show off your expertise and knowledge of the market. You can also get on social media and start building a loyal following (TikTok is particularly popular right now).
- Increase your visibility: Get your name out there more by sponsoring community events and teams, getting quoted in local media, or heading out to networking events in your area.
- Improve your review and referral system: Create a process for soliciting reviews and ratings from past customers, and consider implementing some sort of reward system for those who send you a referral.
Taking out ads in local papers, on listing platforms, and on area billboards may be an option too. Search engine advertising can also be an effective method of outreach.
2. Improve your lead conversions.
Getting leads but not garnering much business from them? It’s time to take a look at your lead nurturing process. How quickly are you responding? What info are you sending when you do? Do your listing presentations deliver the goods?
To improve your conversions, you might think about:
- Implementing a chatbot: Chatbots can answer questions, provide information, and interact with customers when you’re unable to. They’re a great way to keep leads in the loop while you’re away or in off-hours.
- Improve your brochures and handouts: Revamp your business cards, brochures, and other marketing materials, and think about creating a monthly one-page snapshot of your local housing market to hand out. These can be great ways to show off your expertise to potential customers.
- Take your listing presentations up a bit: Enlist a graphic designer to help you create really show-stopping presentations that leads can’t turn away from.
You might also want to work on capturing more qualified leads from the get-go — clients who are more suited to your niche or individual market (and thus more likely to convert) in the first place.
3. Increase your commissions.
To increase your commissions, you’re going to need to 1) take on more business (we covered this above), or 2) take on listings that are more expensive. Unless you’re already in the luxury niche, this will take a little pivoting.
- Find a mentor: Get with another agent in the luxury space (not in your market), and tap their brain for tips, tricks, and advice.
- Take a class: Consider taking a course in luxury real estate or even enrolling in a full-on certification program. You might also want to brush up on your marketing or presentation skills.
- Expand your network: To find additional wealthy clientele, it helps to connect with other community members in-tune with that part of society. This might include attorneys, doctors, and donors in the nonprofit space.
Don’t forget: High-priced listings typically require a more hands-on approach, so you’ll want to be prepared for more legwork, added communication with your clients, and, often, a lengthier timeline.
4. Be more efficient.
This is a great goal to have no matter where you’re at in your career. Increasing your efficiency not only affords you more time to work, grow your business, or take on new clients, but it also allows you to set better boundaries too.
With a more efficient business, you can achieve your goals while also making time to be home for supper or to stop by your child’s dance recital.
To improve your efficiency this year, consider leaning on technology (a lot of tasks can be automated these days!), bringing in an assistant, or multi-tasking where possible (i.e., listen to a podcast on marketing skills while commuting to the office).
Get on those goals
Want to improve your business, profits, or bottom line this year? Then it’s time to start planning today. Brainstorm a few big-picture goals, and then work backward to strategize, set timelines, and establish individual milestones. You’ll be well on your way in no time.
Need more resources or inspiration? Try these tips for being more productive, consider one of these NYE resolutions, or learn about getting a designation to grow your career. You can also contact an Embrace Home Loans office in your area.