Mistake #3 They Don’t Have a Solid Plan

June 16, 2020 | Written by: Pam O'Bryant
Part 3 of 5

When I started in real estate (back in the dark ages…) my broker said “there’s your desk, there’s the phone and there’s the phone book.” That was pretty much the sum total of my “training.” You might imagine that I felt there had to be a better way.

I started a decades-long quest for a solid plan. One that I could execute without wanting to be sick every morning. There were the people who said “just go through the phone book, call every single number in there and some of those will want to buy or sell a house.” Ugh. Just wasn’t going to happen in my world. Life is too short to be literally sick to your stomach when you go to work.

I eventually found some coaches and mentors who truly had a better way. They talked about building a database (rolodex…) of people you know and staying in touch with them by offering them value. That was more like it! I’ve long believed that givers gain (check out Bob Burg’s book Go-Givers Sell More”) Now they were talking! I could do that!

At long last, I had found a plan, a solid plan that actually worked! In 1999, I participated in the first Masterminds group with Gary Keller. The research from those groups was presented in the book Millionaire Real Estate Agent. (If you’ve seen my photo on pg 11, it was the one and only time my husband talked me into growing out my hair, never ever to happen again.) We discovered some really foundational things.

source: The Millionaire Real Estate Agent

First, when you have a database of 240 people that know, like and trust you – as a real estate agent – and you communicate with them consistently, you’ll close 40 transactions per year from that group. Now, I don’t know about you, but working with people that know, like and trust me sounded like just the ticket! Now, the “communicate with them consistently” part… Seems that’s where most of us fall short.

A Solid Solution

I found it requires a system and automation. I started with a newsletter that I could mail every month. Nothing special or even all that spectacular. It was filled with fun, interesting articles, many of which had little to do with real estate per se. Once I got that systematized so I knew with certainty it was going out the first week of every month, rain or shine, I added a second piece.

We mailed a postcard with a success story the third week of every month. We sat down once a year and wrote out all 12 stories so they were “in the bag” and ready to go. Seems it never fails, if I waited to write one per month, it was never on time!  And that’s the kiss of death for referrals. Consistency is everything!

Then, I started making sure I called every single person in that database once per quarter. It’s pretty handy that there are 26 letters in the alphabet ad 13 weeks in a quarter. Call 2 letters every week and it’s done and dusted!

Later we added birthday calls, cards and client events. What we had was a plan. A solid plan that yielded not just 40 transactions, but closer to 70 from those 240 people. We have taught this approach to hundreds of real estate agents across the country.

Inevitably, when they get the system implemented what we hear is “WOW! This really works!”  Until you have your database fully implemented, you really shouldn’t even worry about any other lead generation. Those people in your life will introduce you to their friends who need real estate help – when they remember you’re a resource for them. By working a solid plan in just this area, most agents will have a business they can be proud of!

When you’re ready for a solid plan that works, step by step, check out Real Estate on Purpose. Our one-year program builds the mindset, skills and habits you need for consistent, predictable success.

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