You Don't Need More Leads, You Just Need To Work The Ones You Have In A Smart Way!

buyer, real estate, agetn

As a virtual assistant, I recently worked with a client whose business is based in an area of Florida that has not seen much pick up in the real estate market.  She is a real estate agent who has been very successful in the past but the recent housing market crisis has changed that.

When she became my client, she told me that she needed more clients.  After a brief review of her database, I found that she had more than she could possibly work and that she just needed some help looking at them "differently".  One thing that I have learned as a Key Assistant is that most of my clients think they need more leads because the leads they have right now aren't in front of them.  In most cases, these current leads don't know that they want to buy or sell for sure, they are just "thinking" about it.  I hear that all the time, as a matter of fact.

With the real estate market in its current state, is there really a lack of clients? After working with many clients, I have found something else at play.  Everyone of my clients has clients lurking in their databases that they are unaware of!  The truth is, every one of my clients has needed to clean up their database.  Suddenly, there is usually no lack of clients!  What's hard is  convincing THEM that they have to do it. 

In the case of my client, she was very apprehensive about doing database cleanup work with us. Why not?  An agent's database is the core of the business!

With Best Agent Business, we make the process a little less painful by exporting the leads to Excel and telling you how to code them.  You still need to sit down and spend 5-10 hours (depending on your total database size) to clean up the entire database over a month.  If you try to do that on your own, we would spend five times more than that trying to do it!

After about a month, my client realized that she did in fact have enough leads.  As we began sending her weekly leads reports and she began working through them, updating the notes, coding (Buyer, Seller, SOI (sphere of influence) and the rating (A, B, C),  she started to notice just how many leads she did have in play.  As we worked through more and more of the leads she started to realize the value in what we do for her.

It was about five months into her service with us that I had a conference call with her and the owner of our company, Steve, to discuss her three major constraints at the time.  I saw it coming, "Time, Money and Focus" she told us.  As we talked more and more, we discussed her existing leads and it was then that she realized her buyer's agents weren't doing their jobs.  Instead, she was killing herself day in and day out showing houses to buyers while trying to work her active listings as well as find new listings.  Steve told her about a great idea, hire agents at $10-$15 an hour as showing agents.

A week later she ran the ad in the paper, hired two showing agents and found herself making money in April while also having time to start working the leads she had for new listings!

Had she not had those leads sheets and not cleaned up her leads database, she may never have noticed that her buyers agents weren't actively working their leads and may still be losing money.

That is when I truly realized the importance of a clean and organized database for every business, not just real estate agents. Now, from what I have learned as as a Key Assistant, I now preach to all of my clients... 

  1. You don't need MORE leads, you just need to be able to identify your current leads on a priority level and then work them in a smart way.
  2. It's not the quantity of your leads, it's the quality of them.

If you can learn to follow these rules, I believe you can be more successful in your business.  Just ask us how!

Want more new ideas to make your business run more efficiently?  Take 30 minutes today to schedule a call with Steve Kantor to see how a part time virtual assist can transform your business.  Interested in a part time career with us?  Visit our website for more information.

This article was written by a Virtual Assistant at Best Agent Business.

 

 

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Steve Kantor, President 

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Comment balloon 5 commentsSteve Kantor • May 27 2010 10:35AM
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