#219 Mail-Right Show With Special Guest D.J. Paris
The road to success is a challenging one, and in the real estate industry, it can be turbulent, especially with the countless innovative tools and techniques for marketing being developed at this age. For this podcast episode, hosts Robert and Jonathan discuss the trick of the trade among the Top 1% f Real Estate agent with guest D.J. Paris. The host of Keeping It Real Podcast, D.J. Paris’ also shares his expertise in real estate, centrally focusing on the growth of his firm from zero agents to 650 in just about eight years.
Business Plans of Top Brokers
D.J. Paris started with an anecdote on business plans from an interview he had with a top broker. Often, firms work on their business plans in the last quarter and try to figure out how the next year can bring in a lot of profits. However, in his interview with the top broker, they have an unusual approach to goals, sticking only to one, which is to meet 365 new people over the year. This brings us to the idea that necessarily, for agents to achieve their production goals, they only have to grow their contact list and maintain this throughout the seasons. This fundamental exercise, while essential, actually helps in increasing the size of your network and, in proportion, your net worth. But how does a real estate agent keep adding people to the network?
Growing Your Network and Using Different Strategies
Improving one’s network is an energy-consuming initiative that can be challenged with the right technology. A handful of digital players within the tech scene now offers lead services to realtors to determine how your potential buyers can think. Anything that helps automate contact or rather reminding people to contact their clients is the best part of the optimize real estate industry. One of the ways people can grow their network is by developing a communication strategy that suits them. Some realtors buy leads, while some work referrals. Both of these works differently and, as such, must be treated with different approaches. While online leads bring in much younger audience and clients, references are sometimes born from personal relations and often an older crowd. This is why it is essential to establish working systems with different strategies and clients.
Building from Your List of Contacts
Most of the new brokers get anxious about building their contact lists and obsessed with creating a database of people. Studies show that each one of us knows about 300 people. Even with 50 people, that number is enough to start so long as these 50 people know that you’re a real estate agent. Statistics show that 16% of people are going to transact real estate over the next 12 months. So if you know a hundred people, that is more or less 16 people who will be either buying, selling, renting, or even just inquiring about properties. But how many of those 16 people are you capturing with your marketing strategies? At the end of the day in real estate, sometimes quantity works better than quality. And with the right digital tools, building your database is a piece of cake.