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#458028 - 06/09/17 11:16 AM Do You KNOW How Much It Costs YOU To Acquire A New Listing?
ClaudiusJules Offline
Junior Member

Registered: 05/11/17
Posts: 3
Loc: Los Angeles, CA
A bit of a loaded question to say the least right?

For the most part all agents ‘know’ their new listings come as a result of a combination of things....perhaps some Zillow leads, bus-stop advertising, flyers, referrals here & there, a few website enquiries and of course, don’t forget the (dreaded) cold calls!

And look, having some kind of presence on the likes of FaceBook and Instagram is an obvious no-brainer with the market as competitive as it is these days.

They know this, YOU know this, based upon past experience and the need to check as many of the marketing boxes as possible in order to keep a somewhat regular flow of new listings coming in, monthly closings and of course, commissions and cashflow coming down the pipeline.

But to have an ACTUAL FIGURE on how much it costs to acquire a new client listing?

Isn’t that kind of ‘out there’ in the land of make believe somewhere??

Actually, it isn’t.

It’s precisely the direction in which this business of real estate is going and chances are, there’s more than a few ‘new skool’ agents already functioning this way in YOUR market right now…

You see, one of the BIGGEST AND MOST OUTDATED MISCONCEPTIONS agents still have is that there is no real way to deliberately control the number and frequency of new listings they acquire, the amount and frequency of the commissions they earn and therefore the growth and profitability (or not) of their businesses.

Can you relate?

That’s A LOT of very important stuff to have no real control over!

No wonder over 75% of agents either become inactive and/or do not renew their licence and end up going back to a dreaded 9-5, feeling thoroughly defeated…that’s a bunch of ANXIETY, FRUSTRATION and UNCERTAINTY to deal with!

You see the old school scatter-gun approach is not only massively inefficient, it can also feel tremendously overwhelming.


And speaking of efficiency, how about this:- have you recently evaluated YOUR last 10, 20, 30 listings and where precisely they came from and over what period?

You see, like it yes or no, old man Pareto kinda new what he was talking about with his 80/20 principle and the likelihood is if you actually took a closer look, the 20% of activities/strategies that’s got you 80% of your results so far will be surprisingly evident.

The question then becomes; can you really TRACK & MEASURE those results?

And then for the $1M GCI (Gross Commission Income) question; can you SCALE those results on demand?

Answer: Usually, not very easily…

Ok, so let’s get down to ‘brass tacks’ and position our-self for INEVITABLE, MEASUREABLE and SCALABLE results by implementing 3 proven ‘gems’:-

1. BREATHE…

No, I didn’t have you read this far to suggest yoga will solve all of your commission and cashflow problems (although it can have its place)! But I am being dead serious about the proverbial dog taking back control and wagging its tail rather than vice-versa.

Take the time now to have your CLEAR and DEFINITE monthly and 12 monthly GCI goal clearly stated and written down together with the reason(s) for these particular numbers - no arbitrary “double what I’m earning now” phrases or figures allowed.

Review at set times daily (ideally first thing in the morning).

2. DO LIKE VEGAS… (STACK THE ODDS IN YOUR FAVOR)

Undertake that 80/20 evaluation of your last 20-30 listings. It’s all about efficiency and this exercise will highlight those existing actions/strategies that have ALREADY proven most effective for you in your market.

Lose the rest of them, stack the odds/deck in your favor and free up some time and ‘brain-space’ as an added bonus.

3. IMPLEMENT A 24/7 AUTO LEAD GEN & DATABASE STRATEGY

Ok, now we’re really getting into it. So far, everything has hinged on actions YOU take. If you want to be in a position to SCALE your business then at some point you’re going to have to leverage an auto lead generation strategy that runs on auto-pilot 24/7 once set up.

Try this simple but tremendously effective one on for size:

- Simple FaceBook Ad/Boosted Post
- Lead capture page and qualification funnel
- Appointments auto scheduled into your calendar
- Auto email follow-up

4. PROACTIVE REFERRAL STRATEGY

First of all, yes I can count! I was only going to provide 3 gems but this last one is just too good not to share and I’m all for ADDING VALUE and going ABOVE and BEYOND!

So let’s start with the obvious – make sure you ask! Now, when you ask for referrals and how you ask for them has an absolutely MASSIVE effect on whether they trickle in once every 2-3 months, or flow to you as regularly as 3-4 a month.

- Ask every new client when they first sign your listing/buyer agreement.
- Ask each of your past clients over at least the last 3 months.
- Use real (monetary) incentives rather than the usual $100 Target gift card!

Look, this really only scratches the surface on building both a very PROFITABLE and FUN realtor business that goes WAY beyond just earning that next commission.

Keep it rockin’ & rollin’ and let me know if this struck a few chords with you!

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#458057 - 06/12/17 12:17 PM Re: Do You KNOW How Much It Costs YOU To Acquire A New Listing? [Re: ClaudiusJules]
David Hunter Offline
Major Contributor

Registered: 09/27/05
Posts: 1619
Loc: Cleveland, Ohio
Not too shabby... Not too shabby at all.
_________________________
David Hunter | Retired RE Agent |Direct-Response Marketer
www.DukeOfMarketing.com/7-Real-Estate-Marketing-Strategies/
www.TheSaviorsMinistry.org


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#458125 - 06/18/17 08:57 AM Re: Do You KNOW How Much It Costs YOU To Acquire A New Listing? [Re: ClaudiusJules]
TheBPOExpert Offline
Member

Registered: 01/22/12
Posts: 114
Loc: Georgia
All strategies work. The reward goes to those who persistently pursue their strategy over a long period of time
_________________________
The BPO Expert
Free BPO Company List
“You will get all you want in life, if you help enough other people get what they want.” -Zig Ziglar




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#458133 - 06/19/17 02:56 AM Re: Do You KNOW How Much It Costs YOU To Acquire A New Listing? [Re: ClaudiusJules]
FloridaExclusive Offline
Junior Member

Registered: 06/12/17
Posts: 6
Loc: Florida
Very interesting thanks for sharing that.

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#459805 - 11/16/17 12:48 PM Re: Do You KNOW How Much It Costs YOU To Acquire A New Listing? [Re: ClaudiusJules]
Snapple Offline
Member

Registered: 11/16/17
Posts: 13
Loc: California
How do you make an automatic followup that doesn't seem spammy?

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#460041 - 12/07/17 09:54 AM Re: Do You KNOW How Much It Costs YOU To Acquire A New Listing? [Re: ClaudiusJules]
estatereal Offline
Major Contributor

Registered: 01/27/07
Posts: 3105
Loc: LAND OF THE FREE!
most agets dont show up and run a business.

if you had a shop and did not open the doors until 11 some days and did not keep regular hours, what would be the chances of getting people to walk through the door?

the only problem i see in the industry with agents is that they want it to pay them like a job (regularly) but they dont work like a job (regularly). even if you have crap systems, if you show up and work 8 hours a day on your real estate business, you will be just fine and you will figure out how to get better and better.

when agents say catch phrases like
"work on your business, not in your business" but only do 4 deals a year, it makes me want to vomit.
if you want to quote people, go quote someone doing 50+ deals a yea,. 100 + deals a year, 36+deals a year. but better than quoting someone....copy what they are doing...not what they are saying.

show up, work, get paid...its that simple.
dont show up, dont work, dont get paid...its also that simple.

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