When it comes to achieving success in the real estate industry, there isn’t just one “right way”. There’s no measured-out recipe that yields the exact same results for each and every person – and if you come across an ad trying to sell you that, you might as well burn your money because ‘it ain’t true’. Success, and how it is achieved in this business, is unique and tailored to you. For some this makes things easier, while others find it much harder.
The type of person you are, where your talents lie, what niche you’re focusing on, and your timing, all affect what strategies and techniques will work best for you. That being said there are some consistencies that will not only give you a better chance at ultimately achieving success, but will also make you a better agent and a better, deeper, and more present person as well.
As I was researching ways to motivate all of you, I came across some concepts that we have embraced on the brokerage side and modeled our agency around. One that particularly jumped out at me was Kevin Kelly’s “1,000 true fans” philosophy. It’s the idea that it only takes 1,000 people who support you in your life to achieve optimal success.
If you have 1,000 people willing to spend $100 on you every year, that’s $100,000. This is the primary concept behind 1,000 true fans. Think about companies, brands, or people, to whom you are loyal and committed. It could be Starbucks, Walmart, Amazon, McDonalds, a specific musician, artist, or writer. I’m talking about the type of committed where regardless of what they release, and before they even release it, you know you’re going to buy it. One of my favorite examples is the Iphone. Despite a laundry list of reasons we should hate them, including old tech, planned obsolesce, terrible battery life, wild prices, and the need to constantly buy all new peripheral products, people pre-order these things and wait in line in terrible conditions to have the honor to hand over their entire paycheck for it! That right there is a true fan. Now you just need 1,000 of them and then you can retire like a King/Queen! Right about now you’re probably thinking that number is unattainable aren’t you? It’s not! Maybe you estimate that you have 100 true fans. Maybe 70, maybe 120. The real question is, how and WHERE do you get more? Well, there are ways you can increase your fan-base, and I’m going to tell you how!
First you need to think about this philosophy with regards to our industry: If you have 1,000 loyal clients— clients who will promote you, who refuse to buy or sell with anyone other than you, and who will tell all of their friends about you – your business will boom. Guaranteed.
Obviously all 1,000 fans aren’t going to be buying or selling their homes this year, or next year, or every year. But if they’re offering your services consistently to others, if they fall into the 21% repeat customer criteria, if they throw your name into the mix anytime they hear someone talking or asking about real estate, your business will be successful beyond your imagination.
Our goal is to build a business that is recession proof, and with fans such a goal is very much within reach.
Now what does it take for you to keep 1,000 true fans interested in and excited about you?
- Deliver. If you aren’t delivering, you won’t succeed. You have to deliver every single time. You can’t deliver half the time, and it has to seem easy and effortless. What you’re offering has to be something that your client wants, and it has to be exactly what you say it is. No over-promising and under-delivering.
- Attention to detail. Your “fans” are fans because what you’re doing makes them feel special. Do things that let them know that you care about them, that you’re thinking of them, and you will do anything you can to make them happy. Feel free to get outside the box. Innovation is not just something you see in tech companies. We’re constantly trying to improve the customer experience through innovation, you should be trying to do the same!
- Set yourself apart from others in the industry. Handwritten notes, consistent follow ups with past clients every 2-3 months, making branded promotional items and gifting them to clients, and offering (legal) incentives for previous clients who provide new leads, are just a few ways to increase retention and grow organically. Figure out what works best for you, embrace it, commit to it, and be persistent and excited about it so your “fan”base knows it too.
- Be consistent. KEEP creating, keep your goals competitive, keep striving— don’t give up. Entrepreneurs aren’t automatically successful. They try and fail, and try and succeed, and try and fail, again and again; however, throughout the process they’re learning, building a thicker skin, honing their craft, and tweaking their plans. They’re finding out what works for them, and their clients, and what doesn’t. You have to be diligent, you have to be willing to take risks. In fact risk is required for success. NOT because risk guarantees success, but rather because the risk is the opportunity for success. People take risks but give up too easy. They don’t allow time to develop. Be consistent… Have a method to the madness. Set a time and tell yourself that you’re going to give it X number of days/months to see it through. Don’t just take a chance at something and if it doesn’t work right away, give up and say “this is the reason I don’t take risks” and never do it again. This leads to my last point:
- Give your ideas time to generate business. Be checking in regularly with past clients. Be liberal with your timeframes, but be consistent with how you’re implementing it. The idea is to allow yourself an opportunity to succeed. Some of your ideas may be time-sensitive; some may not. Some might even depend on the season, or where you are in your career right now. But you have a MUCH BETTER opportunity for success if you are thinking outside your comfort zone, maintaining consistency, producing new and innovative ideas and checking in with the people in this business who have gotten you to where you are today: your clients.
Every single client you have is an opportunity to get more. There’s a reason why relationship marketing works. If you’re only asking yourself, “where should I be looking for new business?”, you’re not utilizing all of your opportunities.
Here’s the math: If you had one client, and that one client mentioned you to six people, two of whom were thinking about selling or buying a home in the next two years, that’s a tremendous opportunity right there, just from one person! Now imagine 10 clients? Do the math! 10 people tell six people, that’s 60, 20 of those people want to buy or sell in the next two years. Those are incredible leads and that is the result of very little effort on your part! These numbers should excite you because they are reasonable and achievable.
Make sure you’re consistently interacting with past clients, but not always about business. Checking in with them about things you found out they were interested in from when you were working with them, or even that you learned from a casual conversation can create a long-lasting bond which shows them that you’re the sort of agent who will go the extra mile to guarantee personal service and attention to detail.
Don’t underscore your relevance on social media. Facebook, Instagram, Twitter, and Snapchat, all keep you in the forefront of your clients’ minds. If you’re posting or commenting on their posts, and sharing things of your own, not only can it potentially endear you to people, but it keeps you present in their minds. If they see you, they think of you, and that is how the majority of businesses stay active.
Get as many testimonials from satisfied clients as you can, the more positive feedback you have, the more business you will generate. There is never enough good press. Data compiled by Properties Online shows half of buyers and nearly half of sellers find their real estate agents through referrals. Don’t lose out on this HUGE opportunity because you are not completely following through with the process.
We all want to achieve. We all want to succeed. How well you do is up to you, more so in this independent industry than almost anywhere else. 2018 is the year to be the best agent and the most well-rounded, successful person you can be. I am always thinking of innovative ways to inspire, counsel, and help, all of you achieve success beyond your wildest dreams. When you succeed, we succeed. We value your successes, both individually, and as a company. I value agents who embrace both what comes naturally and what does not. I commend agents who adopt new strategies, whether they succeed or not, because they know that without trying they will never really know what works and what doesn’t. That is how all successful people operate. If you think you are alone, you are not. We created JohnHart so that you don’t have to go it alone. So, if you need help, simply ask. If you need motivation, find an accountability partner or an agent that you would like to mimic the career path of and buddy up. If you’re stuck, come and find me and together, we will work on a business plan and model that is right for you.
There are always more opportunities out there. We will find the ones that work best for you. Quite literally, JohnHart’s business IS your business. And vice versa. There is a tremendous amount of 2018 still left to find new and innovative ways to succeed. So get cracking, get motivated, and stay the course. If you’re feeling isolated, overwhelmed or discouraged, there are innumerable resources at your disposal. We have ambitious numbers on the board, but they’re also absolutely doable. I believe in you, and I believe that we will shatter the ceiling in 2018.
June is going to be amazing because you all are amazing! The third month of the quarter is always the most challenging and rewarding. Do me a favor and make a decision to have the most productive month of your career. If three listings in one month is the most you’ve ever hit, your target for June has to be four! If your record number of open escrows in one month is five, your target for June has to be six!
Let. US. Do. This!
-HK
After working with, and for, many different real estate firms, it became apparent to Harout that there was a major disconnect between what consumers needed/wanted and the service that was being provided to them. It was upon this realization that Harout founded and opened JohnHart Real Estate; and as the CEO/Principal Broker he has continued to break from the norm and redefine real estate with an insatiable appetite to give his clients the service and attention they deserve.
This man is a genius!! He is thought provoking, engaging and a true problem solver. He loves to help people and finds a million ways to do so. He seems to truly care about people. He is a good family man, solid with high integrity. A great friend and listener. He is a positive person who never stops thinking about how to make everything better. He has over come much and tries to show others how to do the same. He shares everything he can to help others. I have had a lot of experience over the years with Brokers and there has never ever been one so completely devoted to his agents, clients and people in the world. He is and always will be a winner. We are all blessed that he has been born as the world is a better place because he is in it. Sincerely Pat Schutzer