New year! New you! Remember, real estate is a marathon - not a sprint. Instead of losing all your steam from grinding in the beginning of the year, ensure you are producing results year-round. To do this, we have identified 5 habits that real estate agents should get rid of in this year.
5 Real Estate Agent Habits That Will LOSE You Money
1. Only Focusing on New Leads
All your old acquantances shouldn't be forgotten. Some real estate agents are so motivated to generate new leads, that they forget the gold mine that is sitting in their CRM: past clients. You need to find excuses to stay in touch with your book of business, because those relationships you build today can convert into your transactions tomorrow.
2. "Do it Yourself" Solutions
A real estate agent building their own website is equivalent to a homeowner trying to sell their own home. It makes sense if the home owner is also an agent, or if you have studied web development - but in most cases, it's better to get your real estate website from a company that specializes in the industry. Wordpress, Squarespace, Wix, and other similar hosting sites are pretty and easy to customize - BUT - they are not optimized for real estate. IDX solutions won't be built in. And you'll have to stay on top of any lead inquiries you get, because they don't automatically email new leads like websites that are coupled with CRMs.
3. Dismissing Leads Not Ready to Transact in 28 Days
There is a common myth among real estate agents that leads not ready to buy or sell their home in 28 days are not worth the time. This is absolutely not true, and is a surefire way to have those leads work with a different agent when they finally raise their hand. Successful agents understand the homebuyer journey can sometimes take up to a year of just researching before they are ready to look at homes. These agents will nurture those leads until that point. If you are dismissing an internet lead because they aren't ready - these agents that have effective nurturing campaigns are the ones cashing the check.
4. Not Logging into Your CRM Regularly
Many Real Estate CRMs give you consumer insight and give you the tools to convert those real estate leads into clients. Zurple, for example, tracks behavior through lead intelligence and lets you know which leads you should take action on - and which leads you can continue to monitor. One of the reasons a real estate agent fails, is because they don't properly follow up with their real estate lealds. Part of that reason is not logging into their CRM on at least a weekly basis.
5. Not Having Habits in Gneral
Consistency is the key to success. To develop consistency, you need to have good habits. The best practices as a real estate agent must be practiced on a regular schedule. You can't join the gym, run 40 miles in the first week, and then never go again. It'll make a bigger impact if you run 1 mile a day for 365 days.