RISMedia's Real Estate Magazine

APR 2018

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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RISMedia's REAL ESTATE April 2018 79 {Power Teams} W ith hundreds of companies, web- sites, social media platforms, direct mail and other lead generation systems vying for our attention, we're constantly being bombarded with a variety of different ways to purchase leads. As a coaching company that works with many top-performing teams, we've learned that if we track everything from first con- tact, we can determine what works and what is simply hype. To that end, we track everything from lead source, conversion rates, average cost-per-lead, and more. As a result of this incredible data, it has become crystal clear that the very best leads with the lowest cost and the highest conver- sion rates come right out of your palm. What I mean by this is that the database you keep on your cellphone or in your CRM is by far the most valuable lead source you have. Thousands of agents, team lead- ers and brokers focus so much time, effort and money on co-gen- erating leads so they can have the opportunity to work with strangers, when the power in their palm will generate more income and allow them to serve the people they care about most. So, how do we tap into the power in our palm? Here are several sure- fire strategies: 1. Have a real estate-specific CRM and keep it current. 2. Keep track of client type (buyer, seller, friend, church group, investor, attorney, etc.). This gives you the ability to search by contact type and provide more referrals to the people in your database. Remem- ber, if you want more referrals, you have to give more referrals. Take copious notes on every conversa- tion, call or appointment so that you can remember past con- versations and easily recall important details. If it's im- portant to them, it should be important to you. 3. Every time you have a touch with a client, schedule the next touch. This is a critical step that keeps people from falling through the cracks. 4. Record important dates. This includes anniversaries, birthdays, the anniversary of the home clos- ing, etc. Send congratulatory notes, birthday cards, etc. It really works. 5. Build for events. Events like a Thanksgiving pie day, neighborhood breakfasts and client apprecia- tion movie nights are a few great ideas. Each event allows non-sales touches with your database as you invite, remind and thank them for participating. When done correctly, these events almost always result in new business referrals. 6. Call through your database 4 - 6 times a year. Pick up the phone and check in. Let the individuals in your database know that you care, and make sure they know that you can—and will—take great care of their real estate needs. 7. Reward and reinforce positive behavior. Immediately send a thank you card or gift for every referral you receive. The act of giving the refer- ral—whether it works out or not— should always be appreciated. While I often hear from real estate professionals that they don't like to call their friends because they don't want to sound needy, it's im- portant to remember that no one will take better care of your friends than you. It's time to stop working with strangers and turn on the real power in your palm. Verl Workman is the founder and CEO of Workman Success Systems (385-282-7112), an international speaking, consulting and coaching company that specializes in performance coaching and building successful power agents and teams. Contact him at Verl@WorkmanSuccessSystems.com. Turn on and Harness the Power in Your Palm by Verl Workman

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