As an industry, real estate is one of the most lucrative and attractive businesses you can get into. However, it can also be one of the most challenging.
The industry is constantly changing, making it difficult for you to keep up and thrive.
The key to building a successful business in real estate is consistency. Much like with other businesses, there are four essential steps to building a consistent business model that will allow you to succeed over time.
Generate as if you're running a bakery, waking up early to have something to display on the shelves.
Generating leads is more challenging now because breaking habits has become easier than forming them. Form the habit of generating leads every day, even if it's just five.
If you keep generating, pushing, and networking, you will find the people who need you. And as you generate, track your numbers to see what's working and what's not.
When you generate, you find potential customers to nurture. By nurturing your leads, you're staying in touch and keeping them top-of-mind so that they'll think of you when they are ready.
The best way to nurture your leads is to send them what they need. Then when you see that they've stopped opening your emails or clicking on your links, you know it's time to have a conversation.
Call them, get them engaged again, and continue to provide value.
Your database is your most valuable asset. It's a list of people you have a relationship with and who trust you. These are the people who are most likely to do business with you.
Filter out people who don't seem to be in your target market so that you can focus on the ones who are. When you're mining your database, you're looking for business.
Diligently search through your database, ensuring you're not losing sight of a potential customer. Automate for the low-hanging fruits and personalize for the more high-yielding opportunities.
Lastly, follow up. This is probably the most crucial step in the process of building a consistent business that most people miss.
They generate a lead, nurture it, and then let it go by the wayside. If you don't follow up, you'll never know what could have been. Make it a habit to know how many people you have to call each day and then do it.
Check to see how they're doing, offer your help, and continue to provide value. The more you follow up, the more likely you are to turn a lead into a customer.
Building a consistent business in real estate is no easy feat. But if you can be consistent in these four steps, you'll be well on your way to success.
The key is to be consistent in your efforts. Be consistent in generating leads and nurturing them. Work on what the customer needs versus what you want.
Mine your database diligently like it's your most valuable asset because that is what it is.
Have patience in looking for opportunities, consistently follow up, and you'll see the results you're looking for. Building a consistent business requires you to be consistent yourself.