Utilize the 80:20 Principle to Make Your Real Estate Business Grow

The Real Estate Industry is so busy that it can seem impossible to focus on your goals and not get buried by all the emails and social media. Have you tried the 80:20 Principle? This solution means that 80 percent of your results come from 20 percent of your effort. Try these steps to organize and prioritize the growth of your business:

• Prioritize your database
  • Some of your clients may have sent you multiple referrals, therefore, they should receive most of your attention and focus. You will want to connect with them regularly and make sure you build and maintain a lasting relationship.
  • You will also want to re-engage with past clients and engage with new clients. It may seem like a lot of hard work up front but later on it becomes easier once a relationship has been established.
• Provide your customers with valuable information consistently
  • You can increase your read-through rates by not only sending emails but by sending physical mail as well. 82% of real estate professionals don’t mail their clients so this would be a great opportunity to set you apart. You can send them tips on how to improve their home’s value, improving their credit score or just about setting goals.
• Make emotional deposits
  • In order to develop and maintain a relationship with your client, you must create a meaningful bond. In addition to providing him/her with valuable information, keep in mind that people love special touches such as a note, birthday card, etc. They find it refreshing that you went out of your way to do something for them.

All of these activities combined help you increase your database and thus grow your business. It is achieved with just 20 percent of your effort.

*Courtesy of Inman.com

 

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.