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How to Grow Your Real Estate Business

Friday, August 23, 2019   /   by Terri Alphin Smith

How to Grow Your Real Estate Business

Real estate is a jammed packed career market, with approximately 100,000-plus active real estate licensees in North Carolina. This can make it feel impossible to grow your business!

The good news is that's it's highly possible for you to grow and MAKE MONEY. There are various actions you can take to actively grow your business and reach new clients while making more sales along the way.

Terri Alphin Smith's Tips:


Be More Purposeful With Networking

You're going to need a targeted approach to finding the people at networking events. When you walk into an event, your goal is to connect first with the people who can help you most. This can be someone to share advice or a person who can provide financial help.

Grow your business: Have 1 to 3 goals/ideas in mind for the next networking event you attend and focus on them each time you talk with someone. 

Time Management

Create a REASONABLE To-Do List.  If you have a never ending To-Do List, you will feel as if you never accomplish anything or get closer to reaching your goal(s). 

Grow your business: Trello or something like it, will help to organize your day, week or month. Don't forget to set aside time each day for unexpected happenings.  For example, if a random phone call comes in, you'll know you only have 10 minutes to wrap it up to stay on track with your day.

Diversify your Property Offerings

You're already showing them resale homes, why not show a potential customer, who can qualify, a brand new home?  This is especially true if your potential customer is relocating, or PCSing from another military base.  While it does take 6 months or so to build a brand new home, instead of waiting those 6 months to have your customer sign a contract, why not lock them in now, sign the contract and close on the home in 6 months?  

We sell high quality, brand new A. Sydes Construction, Inc.'s homes!  Take a look at our weekly newsletter to receive the latest information on our inventory!

Grow your business:  While waiting for a relocating/PCS customer to get here, you could potentially risk losing your customer. Why wait if you don't have to? 

Call & Email Your Customers

If you’re already tracking you leads with a CRM system, it’s time to engage with them. Never forget the ones who aren’t ready yet or are still on the fence about working with you. Calling & emailing them will  give you a chance to show them your knowledge of Jacksonville, Onslow County in general or real estate.  You've got to show them that you're the Expert they need!

Emails also keep you at the forefront of their thoughts, so when that on-the-fence client is ready, they’re likely to think, " I need to reach out to "So and So" because (he/she) knows what they're doing."

Grow your business: Every email you send out should have a goal.  Remember to send out a piece of information with each one. 

Hire an Assistant

You are a small business owner.  Sometimes you can’t manage everything yourself. When that happens, it’s in your best interest to hire help, even if that’s just an assistant. This will help you maintain your sanity when things get hectic.

Grow your business: If you can’t afford a full-time, assistant, hire a virtual assistant! Virtual Assistants take calls, manage leads, and more. 

Find a Mentor

This is where being on a Team will help you flourish.  Our Team Members at Terri Alphin Smith & Co., not only have me and my 20 + years of experience in Real Estate but also each other!  There genuinely is a better work experience for Team Members! You're not in business alone! Personal fear of failure can cripple your progress. That fear of failure can lead you to avoid what you may deem potentially risky or high-value opportunities that could ultimately help you grow your business. The nurturing team environment can help you see opportunities for what they are, and decide whether they’ll be valuable to your business or not.

Grow your business: Find a mentor who can help you with your concerns . With  “been there, done that” experience, a mentor can help you walk through pro’s and con’s and see through to the benefits of a change that you may be afraid to take. 

Referrals


Did you know that:

  • 86 percent of buyers/sellers would use their agent again and recommend their agent to others.
  • 75 percent of an agent’s business comes from referrals and word of mouth.

Are you maximizing your customers ability to give you referrals? There are ways to get the word across: 

    • Give or offer referral gifts
    • Request referrals on your website
    • Use branded materials to make it easy to be referred
    • Give thoughtful client gifts

Grow your business: See what method/ideas gives you the most referrals. 

The Power of Social Media


Managing and making social media useful can seem like a huge task. Currently there are approximately  2.77 billion social media users around the globe.  You just can't ignore those statistics.  If you want to grow your business, you need to be active on at least one social network, where you can run ads, share content and drive leads. You'll be able to reach a wide audience of potentially interested buyers or sellers. Here's a few ways to make the most of social media:

    • Do live video tours of new homes on the market. With Facebook, if people don’t tune in during the live feed, the video will live on your wall, where it can still be available and valuable.
    • Congratulate new homeowners on Instagram. You'll make your buyer feel amazing, and it gives you a chance to share about how you’re changing people’s lives, making the home buying/selling process easier, and more.
    • Boost listing posts on Facebook (even $20 can go a long way) so they’ll reach a wider audience. 

Grow your business: If you’re not on social media yet, start with Facebook, which has the largest number of daily, active users. 

There are many ways to take your business’s growth into your own hands, and stand out among the crowd. Take a moment and test these ideas to see which ones are most effective!