RISMedia's Real Estate Magazine

APR 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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102 April 2019 RISMedia's REAL ESTATE {Power Teams} Elevating Your Relationships by Jim Knowlton W ith changes in technology hap- pening almost daily, a big ques- tion on the minds of many agents or teams is, "How can I avoid a technol- ogy disruption in my business?" The answer is actually quite simple: El- evate your relationships. Most agents begin their business highly connected to their Top 50 or SOI, also known as their sphere of influence. As we mature in our business, we become more "ef - ficient" and often turn to technol- ogy, automated services or team members—or none of the above— to stay in touch with our business' core group. A healthy real estate business is 60 - 70 per - cent referral-based. Teams and agents spend a for - tune trying to find the next buyer or seller via pay-per-click or other paid service, and neglect to spend any time or money on maintaining the relationships and partners they have now. If elevating our key relationships is paramount to our business sta - bility and growth, how do we go about doing that? We use a program called Top 50. Simply put, Top 50 says we iden - tify the 50 people in our lives who know, like and trust us. We then schedule one "meaningful contact" with them monthly. A meaningful contact can include coffee, break - fast or lunch; a personal visit; or in- clusion in a group activity such as a paint night, wine tasting or cooking demo. Each visit is based on build - ing your FORD (Family, Occupation, Recreation, Dreams) database for the client. Contact should always be about the client. When the con - versation slows, most people will ask about you and your business. This gives you the opportunity to discuss all the families you've been able to serve in real estate. Many are concerned that 50 peo - ple isn't enough; however, the goal of the Top 50 program is 86 sides referred and 50 sides closed. So, if you're closing less than 50 trans - actions per year and want better people to work with, elevating your relationships with the Top 50 pro - gram will surely help. One more thought: People who have been in business or in the area a longer time will find a large number of people above their Top 50. We can elevate these relation - ships, too, using a four-contact SOI program. Regular touches or con - tacts might be a custom agent/ team birthday card with a $1 scratch ticket and a seven day fol - low-up call. Then, send a branded House-A-Versary card for all past transactions (make sure you in - clude both sides), invite the clients to your Thanksgiving pie giveaway and be sure to add them to your address list and mail out holiday cards. Using specific action plans to stay in touch with and elevate re - lationships within your market is the key to stability and the growth of your business. Remember, you should spend at least as much on keeping your current clients and business as you spend on trying to find new ones. Nearly three decades of real estate experience—in- cluding 15 years of coaching with Verl Workman—has made Jim Knowlton one of the top agents in the country and one of the most popular coaches on the Workman Success Systems' team. In addition to serving as director of Coaching for Workman Success Systems, Knowlton also owned and managed several real estate franchises, earned numerous awards for his performance and continues to lead a Keller Williams mega agent team in New Hampshire today. Contact him at Jim@WorkmanSucceSssystems.com.

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