Many REALTORS® understand the painful realities of peaks and valleys in their commissions. Collecting a commission this month and going without next month, only to collect another commission the month after that. I fell into this trap a few times in my career!
A lot of this can be avoided by concentrating on your book of business!
Avoiding peaks and valleys can be tough as an Agent. Specifically when you are new. It can be difficult to maintain a steady income as you try to build your business.
What ends up happening is, we have the best intentions when it comes to asking for referrals and following up with past and future clients. But then something unexpected happens…
Now it feels like we are crazy busy and maybe we are, but unless you have between 5-10 current clients, you are not “that” busy.
What ends up happening is that we concentrate all our energy in to the current clients and we stop prospecting and connecting with our database. The leads start to dry up and so does our business.
Remember that what you do now, pays off in 30, 60 and 90 days down the road.
Most agents concentrate on their current clients, showing them the best service they know how. This is the way it should be. Providing outstanding service is critical for your clients and ultimately, for your career. However, there are two other sets of clients that need to be worked on, on a daily basis as well.
Past clients get overlooked a lot. Did you know that in a survey done recently, 80% of people who moved, would use the same agent as before? The big problem is that most agents don’t continue to stay in contact beyond the sale. This is not good. What ends up happening is, you do the same amount of business year after year without growing your business at all. Chasing deal after deal. While other agents in your office receive calls when someone in their database is ready to move.
By focusing a small amount of time each day on past clients, you can start to expect these referrals more and more. Here are some ways to maintain good communications with past clients.
- Monthly Newsletters – Valuable information sent each month with stats and community news as well as other tips for home owners.
- Personal Notes – writing personal notes daily ensures your past clients know how much you care about them.
- Client Parties – Movie nights, Barbecue’s, Picnics, Bowling events and even just a great out at a nice restaurant are all great ideas for client appreciation parties.
- Lunch / Coffee get together – Meeting your past clients for lunch is a great way to show your appreciation. These one on one meetings are amazing. Don’t forget that it’s “all about them”. This is a chance for you to hear what’s happening in their lives and see if you can be of service to their friends or family down the road.
Future clients are people we have just met and we want to make sure that we get them into our database and we secure them as a future client. The way we can “secure” them as a client is to gently market to them so that their decision making process is easy when it comes time to move. If we are continuously making contact it will be easy for them to make a decision as to who to hire for the job. At the very minimum, we should be receiving a call for an appointment.
Again, by focusing a little time on the people we just met, we can ensure they become future clients. Here are some techniques for maintaining contact with future clients.
- Personal notes – A great touch to a new contact. 30 seconds of your time will go a long long way to growing your business.
- Monthly Newsletter – A fantastic way to show your value, good tips, great data and information is invaluable for new clients.
- Phone calls – A great way to double check with new people you have met. Much better than email as you can hear the inflections in their voice. You can better gauge motivation and seriousness of their eagerness.
By concentrating on the 3 Areas of your business will ensure continued growth and create more leads and flatten out the peaks and valleys with respect to your commissions. Set a few minutes aside per day for your Past and Future clients.
Best of Luck!
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