We want to help you make more money — right now. All month, go Back to Basics with Inman as real estate pros share what’s working now and how they’re setting up to profit in a post-pandemic world.
Pulse is a recurring column where we ask for readers’ takes on varying topics in a weekly survey and report back with our findings.
It’s Back to Basics month here at Inman, and last week, we kicked off the new theme by asking our readers to share what exactly “going back to the basics” really means in 2021. What should real estate professionals — new agents, veterans, teams, indie brokers — focus on this year?
Well, this week, the conversation brimmed with so many thought-provoking answers from readers chiming in on the most important and fundamental principles they’ve been going back to over and over again. Like, connecting with clients via phone and video calls. Or getting finances in order. Or giving your database a facelift (that, or starting a new one). And that’s just naming a few. Here’s everything you had to say on the topic:
- Lead generation.
- Putting the clients’ (purchasers and/or vendors) interest as the first and only priority.
- Live conversations with your clients! Phone calls! Video calls! Keep in touch. Don’t bring up real estate. Limit texts and emails. They love to hear and/or see you live! Video texts are awesome as well.
- Talking to people. People need human connection and conversation. That became rare during the pandemic.
- It’s no longer about being “transactional” or “relational.” It’s about doing both.
- Getting back to your CORE (community, outreach, real estate and energy). Community: Know it, love it and be part of it. Outreach to people: Check in with them, make sure they are OK and let them know you are accessible. Real Estate: Share real estate information. Be an expert in your field and laser-focused on your businesses. Energy: Make sure you know what gives you energy, then share energy with anyone and everyone. Giving is many times more beneficial to the ones who gives than those who receive. Having and spreading energy is back to basics.
- Databases! In January, I did free mentoring and business planning in a pandemic with agents from our local Coldwell Banker company. It was shocking that very few people had a basic spreadsheet with the names, addresses, phone numbers and emails of their peeps. Just get a spreadsheet going!
- New agents should be going back to the basics of having conversations and adding value to their sphere of influence. The refresher and reminder we’ve seen most this year is that focusing on relationships always leads to increasing transactions. We have doubled down on the basics of talking to past clients, reconnecting with clients that we may have neglected talking to in the past, and producing valuable and timely content for our database.
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While I always prefer to say “move forward with the basics,” I think finances are a huge area where people need to focus on the basics: a budget, a spending plan, savings and — call me crazy but — agents need to know how to calculate profit! Also, a basic knowledge of marketing skills is critical. And I don’t mean posting selfies or listings. I mean storytelling, the hero’s journey and creative calls to action. Lastly, I’d say planning. So much stress can be avoided with a basic plan. A business plan, a time blocking plan, a content plan, etc.
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New agents need to study their craft. Drive neighborhoods when they are new. Understand nuances and particulars with communities. Drill down to HOAs and fees, what’s allowed and what’s not. Offer to help busier agents with some things so they can focus on bigger picture while you gain invaluable market knowledge and insight.
- Mental wellness conversations are sorely needed. Our people are “people people,” and the pandemic has stymied that in so many ways. Our agents are hurting while their economic sector is on fire. We need to look at daily disciplines as a way to keep moving on the hard days and find mentors who understand more than volume.
- Build real genuine relationships.
- One to two hours a day of getting the most important things (pipeline) done and then lining up the good days. Basics! Stop working on your branding, and have more conversations!
- Focusing on business development. Reaching out to people. Talking to people over the phone or in person.
- Focus on being the best of you to help your clients.
- Keep it simple.
- April is fair housing month. Fair housing is basic.
- Farming. Staying 100 percent listing-focused.
- To me, it means getting back to what’s been lost in a world of technology. Talking to people on the phone, sending them a handwritten letter, listening to their needs.
- Sales is a numbers game. Talk to more people. Those who list, last. Focus on listings. Become a life long learner. Take a class. Read a book. Get a new designation. Join a mastermind group.
- How to build relationships, how to be organized, how to follow up, how to submit thorough and well-crafted offers.
What did we miss? Please share your thoughts in the comments section below.
Editor’s note: These responses were given anonymously and, therefore, are not attributed to anyone specifically. Responses were also edited for grammar and clarity. Inman doesn’t endorse any specific method and regulations may vary from state to state.
