We just had our 2 year anniversary at Allied Title & Escrow and we are very fortunate to have over 100 customers who we service. One thing we always hear from agents is where do I start and how do I get more business.
A month ago we hosted a panel of top agents in the area and and yesterday I attended a Keri Shull event where she brought together 6 of the top producers in the DMV to discuss what has worked for them. Did you miss those events? No problem, you sit right there and we will summarize it all for you!
BE DIFFERENT – Dan Lesniak pointed out that if you are doing exactly what everyone else is doing, it’s going to be hard to come into an industry with tens of thousands of agents and stand out. How do you do this? Look to see what other industries are doing which you could take to real estate. For example look at a completely different industry. What does a nightclub owner do to grow their business? What do politicians do to successfully campaign? To figure out unique marketing tactics, it will require a lot of thought / trial and error.
MAXIMIZE EACH OPPORTUNITY – Kara Donofrio Managing Broker at Long and Foster pointed out how many opportunities aren’t maximized. She ask you ever walked into an open house and the listing agent was sitting down reading the paper? Were they not engaged and not trying to educate you on the property? If you are going to do an open house, maximize the opportunity. Look at it as an actual event. Go around and knock on doors and meet the neighbors. One agent held a BBQ for the neighborhood. Advertise the open house online. Hand out flyers. You might end up meeting a neighbor who wants to sell their home down the road. Ask questions for the potential buyers that are walking in because maybe they don’t like that home but they want you to find them another. Working an open house might suck to do, but if you are going to do it you might as well maximize the opportunity.
ASK YOUR SPHERE FOR BUSINESS – Ryan Zook from Dwellus pointed out that he called all of his friends / network and asked them if they could refer business to him in the next month. He told them he had joined an accountability group and although he hates asking his friends for help he promised his group that he would call all of his friends. He was amazed that it led to over well over 10 deals. Some of his friends reached out a couple weeks later and told him they had reached out to their network to find out if their friends needed an agent. Many didn’t have an agent they worked with and he was connected to people who may not have bought right then, but eventually did.
GO ONE STEP FARTHER – Sherif Abdalla From Compass goes one step farther with his current clients than most which results in more referrals. For example he gets to know his customers and searches for articles online that will benefit them. He is always looking for articles or tactics that will benefit his clients. Also he gets to know his clients so well he knows what’s going on in their lives (eg., new baby, big life event). These are great opportunities to follow up and help support new endeavors.
FOLLOW THROUGH / DON’T GIVE UP – Sue Goodhart, CEO of the Goodhart Group, does an excellent job executing various marketing tactics including a beautiful newsletter that is mailed to her clients featuring their listings, their results and stories about her team. She also puts on consistent events for her neighborhood and her clients. Many agents will give up on a marketing tactic right before it’s about to produce results. Having your name reach a target audience in a variety of ways consistently is an important element to build a great brand. Don’t give up on a tactic because you aren’t seeing results quickly. Consistently being in front of people is how you build a relationship and trust.
FOCUS ON A NICHE – If you can become an expert in a specific area or industry, you are likely to receive more referrals. Dan Lesniak pointed out that when he was starting in the business he focused on condos in Arlington and which led to numerous referrals. Many potential customers in the buildings he was selling in would reach out to him since they saw his success. With any niche make sure it’s big enough to be fruitful and worth your time.
If you’re starting in a new industry, listen to what the most successful people are doing. With that said, if you are going to blaze a new path put aside time to focus on how you can be different, how you can be better, how you are going to win business from someone who is already proven and has been around for a long time. You’re pitch is going to need to be different!
Title Tip of the Week
Are there any problems that a title search cannot reveal?
Yes. There are some hidden hazards that even the most diligent title search may never reveal. For instance, the previous owner could have incorrectly stated his marital status, resulting in a possible claim by his legal spouse. Other hazards include fraud and forgery, defective deeds, mental incompetence, confusion due to similar or identical names and clerical errors in the records. These defects can arise after you’ve purchased your home and can jeopardize your right to ownership. This is why we always recommend purchasing a title insurance policy which will protect you in the situations described above!
Have questions related to title insurance? Email Latane and Matt at email@example.com. Want to use Allied Title & Escrow when you buy a home? Tell your agent when you buy a house to write in Allied Title & Escrow as your settlement company!