On Wednesday, March 27, 2024, we hosted our monthly YPN breakfast with the topic “Cut the Noise – Business Basics” at our home base, Manny’s Deli. We loved getting together in person, connecting with our peers and devouring advice from a panel of local experts. You can stay up-to-date on upcoming YPN events by following the YPN Facebook page!
Meet the Speakers:
READ KEY TAKEAWAYS:
Our guest speakers Jaime Campos, RE/MAX Loyalty, Matt Laricy, Americorp Ltd., Millie Rosenbloom, Baird & Warner, and Moderator, Rachel Scheid, @properties | Christie’s International Real Estate, shared their tips for building strong business foundations, streamlining your business and staying motivated in a changing market.
THREE BUSINESS-Building Basics
#1: Reviews, Referrals and Testimonials
Building referrals starts with the business you already have; Jaime Campos suggests asking your current clients for a referral at the start of the transaction process. People are the most engaged and likely talking about their home buying or selling experience among their family and friends throughout that time; therefore, they hold themselves more accountable in providing referrals.
She builds the ask in organically. Example: “If you know someone who is also looking to buy/sell, I would be honored if you recommended me.” Because she’s building trusted, communicative relationships, people do.
Matt asks for an online review within his follow-up process. Right after a closing is done, he asks what he did well, what areas need improvement and if they’ll post a Google review about their experience. He follows up one week after closing with the same reminder for an evaluation.
#2: Grow Your Knowledge
Subscribe to free educational sources and read them! Whether it’s stock market emails, Chicago Agent Magazine or global news updates, Matt incorporates daily reading to stay informed on what’s happening. He feels more confident and makes more proactive, smart business decisions. It also helps inform what he puts in his own email newsletters, because he knows his clients are seeing similar headlines.
For a hands-on approach, Millie encourages learning from other brokers by sitting in on their open houses in neighborhoods you’re interested in. Study the local inventory, get to know the demographics of who stops by the open houses, etc. She’s also constantly going to activities and attending events in the spaces she wants to be known in.
Millie believes in embracing change and admitting when you don’t know everything. She recently hired a company to run her social media and online video presence, and it has paid off! “Surround yourself with people who know what they’re doing,” she said.
#3: Nurture Relationships with people
All the panelists use email newsletters to keep their clients informed about the market and themselves.
Jaime has a top 400 list of clients she regularly reaches out to; she talks about her life, her family and what she’s genuinely interested in. There’s a little business included, too, but these personal touches have helped her build genuine connections with clients.
Millie knows that people want expertise and guidance, so she addresses nervousness head-on. She shares and promotes stability and a lifestyle in homeownership. She also loves client appreciation events and takes great delight in choosing fun places to host them. Around holidays, she personally delivers gifts to her clients.
Four WAYS TO STREAMLINE YOUR BUSINESS
- Create a process: Develop protocols, customizable templates and lead flow strategies to enhance efficiency and ensure a seamless experience for your clients throughout the transaction process.
- What standard email responses can become templates?
- Where can you invest in mass text apps?
- Have you typed up a process in a document for an associate or assistant to follow and help take work off your plate?
- Map out your year and identify the “seasons” of your business: Matt business plans with the whole year accounted for, and he changes things up quarterly. His springtime market is for the hustle and the grind, while the fall is where he and his team can build in vacations. He knows when to put in the hours and when he can take a step back, because he has a plan and he’s working his plan.
- Assess market trends regularly: Understanding the four distinct markets in relation to your business is key. Whether you assess monthly, quarterly or yearly this will help you strategically time the hiring and training of new agents, how to advise clients and predict the market.
- Invest in tools that help you communicate better: GMass is an email marketing tool that schedules personalized outreach to a large audience at once, supplies detailed analytics and is likely to get caught in spam. Hit Em Up is a mass texting tool that can send generic messages to large audience that looks like it comes from your phone number.
What does success look like to you?
In a world dominated by social media, it’s easy to measure success based on everyone around us.
To stay grounded, Jaime gives herself the 15-2-1 rule. That means at least 15 different client conversations, 2 warm leads and 1 uncomfortable conversation or new opportunity generated each day.
Both Millie and Matt love real estate and love talking about it. They have built businesses connected to their own definitions of success.
Cultivating a winning mindset starts with focusing on your “why.” Knowing your purpose and what fulfills you sparks and fuels motivation. Once that’s identified, create a routine to hold yourself accountable and consistent.
STRENGTHEN YOUR SKILLS: UPCOMING CLASSES YOU WILL LIKE
Harnessing The Power of CRM For Optimal Client Management | Online
Discover the essential role CRM plays in optimizing client management, streamlining workflows and ensuring unparalleled efficiency. From cultivating lasting client relationships to maximizing lead conversion rates, this course empowers you with the knowledge and skills to leverage CRM tools effectively.
Mastering Real Estate Lead Generation | Online
In this comprehensive, self-paced, online course, you will dive deep into the strategies, techniques and tools essential for consistently generating high-quality leads in the dynamic real estate market.
Utilizing Statistical Data to Enhance Client and Customer Engagement | Online
Learn how how to easily acquire and make sense of readily available statistical real estate information. This knowledge will help you become a reliable and valued source of information for your clients!