Are you swimming with the tides or against them?

I have been in real estate since 1986, and the two things that are clear in our business are that there is more change than ever and the pace of change is increasing. Coach Tony Robbins taught me that it used to be if you always do what you’ve always done you’ll always get what you’ve always got, but now you will get less!

So many real estate agents work hard, doing what they have always done or a little more, yet actually get LESS business than they used to. How can that be? Well, if you ask your customers and prospects in other businesses, ANY other business, they will tell you the competition is more fierce, the margins thinner, the risks higher, and the pace of change in their industry is increasing.

What are the factors driving this change, and how does this relate to a real estate agent, and what do you do?

Problem 1. Phone Numbers getting harder to get. phone number

As real estate agents, there was a time the seller’s phone was in the MLS. We also used to buy phone books with the home phone for entire neighborhoods. How, over 50% of our prospects do not have home phones. Not only is getting the phone number harder, but people hide behind caller ID which is on every cell phone.

Solution: when we get phone numbers, the actual number our customers respond to, we need to keep them as they are a precious resource.

Problem 2. Privacy concerns.

privacy

Customer data has been hacked, stolen, and misused, so customers are less likely to give their actual information. Customers have several emails, or change them over time.

Solution: when we get phone numbers, the actual number our customers respond to, we need to keep them as they are a precious resource.

Problem 3: Technology.

technology

New tools are created every day that leverage the power of agents in reaching prospects. At the same time, the overwhelming increase in activity makes standing out harder. Real estate agents can be overwhelmed with all the technology and too often do nothing to develop a modern small business system.

Solution: Like any business, real estate agents need to make a periodic review of their business and assess the technology being used and the needs to use APPROPRIATE tools to be as effective as possible.

4. Outsourcing

outsourcing

It used to be said that if you don’t have an assistant you are an assistant. That if you cannot delegate the $10 an hour work you are doing $10 an hour work. Now, if you cannot be productive, you are doing work that can be done for $2 an hour or less given outsourcing of administrative work. Competitors use labor in India and China to research phone numbers, input routine computer data, and they are growing in their ability to perform many functions real estate agents used to do.

Solution: Like any business, real estate agents need to make a periodic review of their processes and assess the systems and personnel being used and the needs to use APPROPRIATE tools to be as effective as possible.

NONE of this changes the fact that the primary job of real estate agents is to meet people and find out what the prospects problem is and solve it in a way an computer program or laborer in China cannot. That said, we need to make sure we have systems, procedures, tools, and resources to leverage our time to put us in position to do more of the things only we can do and delegate out as much of the rest as possible.

About BillGrossC21

Licensed California Real Estate Broker and Productivity Coaching
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