There are some professions where a person isn’t going to see the same level of success if they’re not ambitious. Real estate is one of them. While there are some realtors who find a way to do well enough and make a living from the career, the majority of those who go into this profession are going to be doing so with much higher aims. A good many of them may be enchanted with the all-too-popular belief that working as a real estate agent is a legit means to get rick quickly, but that is rarely if ever the case for anyone. Even the most ambitious AND hardworking of agents. That said, there are ways to your grow your real estate business in Canada more quickly and so what we’ll do with this week’s entry here is share 7 essential tips for doing that.
It’s valuable information, and in large part because an integral component of having success as a realtor is working just as smartly as you are working hard. Real estate lead generation in Canada is something you’re going to have to get good at, because agents who can unearth people who are ready to buy or sell a home before their competitors do are going to have an advantage. That advantage is going to be having greater numbers of potential clients who are ripe for converting into clients that WILL buy or sell homes through that agent. Which of course then means a commission, and every agent in Canada is going to be making the entirety of their earnings through commissions.
That’s the gist of it all right there – if you’re looking for a career where you’re compensated for your work with a yearly salary, hourly wage, or by contract then you’re not going to putting in the work to pass the real estate licensing exam and starting to work as realtor. But if it is what you decide to do it’s probably because you see yourself as someone who has the right aptitudes along with the people skills required to be successful as a real estate agent in Canada. This may eventually lead you to sign up for a real estate lead nurturing service too, and that’s fairly common for agents that quickly become proficient with getting leads in real estate but aren’t converting them the way they need to be.
As you’d expect it is something that you get better at with practice, and a lot that is going to be the product of plenty of trial and error. But once you have the basics down and you learn how to start communication with potential clients effectively you can then expand your focus to bigger-picture aims connected to growing your real estate business. So without going any further setting the stage for this let’s get right to those 7 tips for growth and success in real estate.
Done Differently, Smarter
In our talks we’ve had with people who have had success getting paid real estate leads from our service here we’ve been able to discern some success contributors that seemingly apply to all of them. These are approaches these realtors use to do better with the number of clients who buy or sell homes through them each year, and again as we all know that’s the name of the game here. The chances that a homeowner or potential homebuyer is going to agree to work with you as their agent is going to be infinitely higher if
- They see you as equal parts knowledgeable, trustworthy, and genuinely interested in helping them have a maximum favorable outcomes to their selling / buying process
- You are a reputable agent in the local community, and have ‘made a name for yourself’ as the expression goes.
The second part of that is by and large exclusively achieved by working in the profession for a long time and having plenty of folks be your clients over that time frame. But the first part of it can be achieved on a much shorter timeline and when you have greater success with converting leads into clients for real estate the knowledgeability part of it comes together very rapidly and in a wholesome manner. This is huge as you grow your real estate business in Canada, and the way it speeds up the process agents usually can’t help but really see for themselves as it’s happening.
The 7 Tips
- Be Fully Accountable – Successful agents will know that prospecting is the key to achieving their goals. What is needed is regular, systematic lead generation with accurate data on expired listings and FSBOs, taking stock of “now” opportunities with a solid strategy to drive revenue growth. It is very important to designate and – more importantly- honour your time for prospecting every day. One thing that’s been reported is that mornings tend to work best for a lot of the top performers in real estate. One of the best ways to do that is to work with an accountability partner on an on-going basis. A brief session with a trusted partner is often ideal for getting your head in the game for prospecting.
- Mindset – It’s also essential that you have the proper mindset to be at the top of your game. That’s one of the reasons role-playing is a proven strategy for top performers, and it definitely lends itself to doing well with real estate lead generation Canada too. The more you practice calling and conversing with lead prospects, the more comfortable you’ll be when you are on the front line and actually speaking with them. An important element in practice and role playing is to work with solid real estate scripts, especially those that include the basics for overcoming the inevitable objections that come with the territory.
- Listen – Agents who’ve really honed their skills with this stuff will know how to pull-back and listen carefully to what their prospects are saying. You need to be able to listen, and then play back what you have heard. Do it right and you’ll be set to gather deeper insights as to the homeowner’s motivation to sell. Understanding their motivation means you can better present yourself as the best choice for them as they evaluate which agent to list with. Never forget how important it is for people to be heard. This is especially true for homeowners contemplating one of the most important financial decisions of their life.
- Build a database – One of the realities of lead collection in real estate is that MOST leads are not going to be ready to list a home right away, or start looking at properties and placing offers if they are homebuyer clients. For this reason it is essential to capture the homeowner’s data in order to stay in touch on a periodic basis and if you sign up for a real estate lead nurturing service you’re going to be primed to have more success with this. One good approach is to ask the following question – ‘I’d like to keep you updated on what’s happening in your market and neighborhood-what’s the best email address for you?’
- FSBOs – Estimates are that 9 out of 10 FSBOs across Canada fail to sell and most of these homeowners then re-list with an agent within four weeks. This will almost always be the scenario if they’re especially motivated to sell, and if so then by this point they will have moved past the idea of keeping more of these proceeds of the sale of their home without having to pay a real estate agent’s commission. Be ready with stats! Show the seller that agent-represented listings sell faster, at a higher rate, and at a higher price. In this equation, make it clear how an agent-sold property more than offsets the commission with regard to the final proceeds.
- Expired Listings – The same principles as for FSBOs can apply to listings that have expired too. There are the same estimates that 40% of expired listing homeowners re-list with a new agent within 30 days. Top performing agents know that calling early and showing persistence yields superior results over time. The homeowner will like to see your enthusiasm and eagerness to earn their trust. It’s also advisable to not discount older expired listings. Many agents know that these older expired listings represent homeowners who’d still like to sell IF they can get the return on the home they feel is representative of what they think it is worth. The challenge for you then becomes finding a way to show them that YOU have what it takes to make that happen for them
- Emulate success – If it’s possible then it’s also a good ideal to ‘shadow’ a high-performing agent in your area to understand what drives them and what makes them successful. Watching someone at the top of their game can inspire you and also create momentum for your own lead generation efforts. Set your goals high, evaluate what is / isn’t working well for you and then be consistent in your prospecting program as you grow your real estate business in Canada. The last insistence we have for you is to never stop prospecting, even if your pipeline is full, and then remember to ask for referrals from your satisfied clients.
Sign up for Real Estate Leads here and receive a monthly quota of qualified, online-generated buyer and / or seller leads that are delivered to you EXCLUSIVELY. You will be the only realtor to receive these leads, and the individuals who you will be fast-tracked to being in touch with will be ones who are likely to be buying or selling a home in your area in the near future. It’s a proven-effective and powerful way to supercharge your lead generation efforts as you work to establish yourself in your real estate career and start to see greater earnings from it.
