So you did a great job this year, but you think you could do more. You've read the books. And most entrepreneur reading materials will give you advice, but mostly vague tips that apply to everybody - instead of your individual business needs. What can a solo agent do to increase their income next year?
Here are 5 Tips for Solo Agents to Increase Their Income
1. Trim the Fat
This is a very obvious way to increase the output of your business - but what is not very obvious is what needs to be trimmed. The top of the list things to cut are typically things you are paying for that don't return their investment. What about what you are NOT paying for? Make a list of tasks that you do on a daily or weekly basis - then write a dollar amount for what you estimate that generates you. If time is money, you should also cut things that are not contributing to increasing your income.
2. Outsource Some Tasks
One of the best ways to trim the fat is by outsourcing some of the tasks that take too much time, you don't like doing, or you are not an expert in. Some agents will hire transaction coordinators or personal assistants. Some agents will hire a local marketer to write all their content. We would recommend also looking into some services that can automate these tasks for you.
For example, Zurple can nurture your leads for you. We track the behavior of your leads, then communicate with them in a way that is personal to them - that sounds like it is coming from you.
3. Have Systems in Place
You can sign up for all the tools you can afford, but they don't mean anything unless you are actually using them. This applies primarily to CRMs, but can pertain to almost anything. For example, if you outsource your social media posts - you should know what to do when somebody comments on a post or sends a direct message. How do you utilize that service to generate more leads that turn into real estate transactions?
4. Stay in Touch
Most notably, all successful agents that have been in the industry for 10+ years will tell you that keeping in touch with your contact database is crucial to having a business that will perpetually run itself. By leveraging email marketing, social media marketing, or even picking up a phone - you are building relationships. Those relationships that you build today are the checks you will be cashing tomorrow.
5. Work on Increase Your Average Commission
To double your income, you don't necessarily need to double how many homes you close. You can focus more on optimizing your processes and the end result. By following the steps in this article, you can save time. To increase money, you can also put an emphasis on increasing your comissions. This can be by selling higher priced homes or increasing your comission.