Congratulations! You’ve now you’re qualified to sell real estate. Now what do you do?
Thousands of Australians have been in the same pursuit of real estate success, only a very small number generate the big incomes that attracted many of us to the industry in the first place.
So how do you achieve success as a real estate sales agent?
As they say ‘hope is not a strategy’. Instead, you need a plan and that starts with ‘what does success look like for you personally’ as the answer will look slightly different for every individual.
Building a sustainable business – the magic number.
The key to a sustainable real estate sales business for many agents is getting to the point where they aren’t struggling to find listings. The best way to do this is to have a large, quality database of relationships.
The question is, how many contacts are enough to build a sustainable business?
As a rule of thumb agents talk about 2,000 homeowners in your database being about the right number to build a sustainable business.
On average 3.5% of Australians homeowners sell their home each year. Hence, a database of 2,000 contacts will give you an average of 70 listing opportunities per annum. If an agent can secure and sell half of these opportunities, then we are looking at total commission of over $500,000 for the year. This also means each contact in your database is worth $700!
2,000 subscribers represent a tipping point for an agent where they no longer need to focus huge amounts of energy on building a subscriber base. If they choose, they can spend the bulk of their time nurturing their existing client base.
Of course, for some agents a sustainable income is not their end goal. The point we are trying to make is getting to 2,000 contacts in your subscriber base as quickly as possible is a great way to secure your future in real estate.
As you build your database you need to nurture your subscribers. Your goal is to gain trust, build strong relationships and stay front of mind. After all, you want to be the agent of choice.
How do you nurture your subscribers?
Sure you can wait for inquiries to come through or send property blasts to every single contact hoping that at least one of them is in the market. The problem is not everyone is in the market and as mentioned earlier, ‘hope is not a strategy’.
Or, you can enlist the help of a proven system that will tell you exactly who to contact, when to contact them and what information you should send based on their interests.
You’re probably thinking, ‘does such a program even exist? How will it know what my subscribers are doing, let alone what information they want to receive?’
Yes, the program definitely does exist. It’s called iRealty.
iRealty is an email and social media marketing platform that is geared to identifying which subscribers of yours are actively in property mode (usually way before your competitors).
The process is simple.
iRealty’s Success Pattern
Send a content based email to your entire database with a variety of news articles, content pieces and a feature property or two. Then use the sophisticated reporting tools to see which articles are generating the most interest, which properties are being clicked on complete with details of each subscriber who is interacting with your emails.
A week later, follow up with a targeted email (such as your new listings) specifically to your subscribers who have indicated they’re in property mode and avoid your subscribers who aren’t. iRealty’s smart filters help you to easily identify who these subscribers are automatically so you can send the right information to the right people at the right time.
You’ll build stronger relationships because your contacts will feel understood when you send specific information that’s relevant to them. In addition, you’ll protect your database and reduce your chances of unsubscribes.
Don’t stress if you’re short of time to look at your reports. iRealty also sends you real time notifications the moment a subscriber shows interest in your emails. This means you can take action straight away and get ahead of your competitors.
So now that you’re well on your way of building a successful real estate career, remember these three key takeaways.
- Build a quality database of 2000 subscribers
- Nurture your subscribers to build trust and strong relationships
- Enlist the help of proven systems such as iRealty to accelerate your growth
As a valued Validum graduate you have access to iRealty’s exclusive offer for all Validum alumni.
Want to know more about this offer simply Email firstname.lastname@example.org or call 07 3193 5270 and we will arrange it all rest assured.
WANT TO KNOW MORE ABOUT IREALTY – Visit https://home.irealty.com.au/