Every time a National Association of Realtor survey comes out, I eagerly get it. Why? It gives us clues into the trends and directions of our industry. There are two major reports that come out yearly or every two years: The Member Profile and the Profile of Buyers and Sellers. I highly recommend you get these reports* and use them to educate buyers and sellers. You’ll find you become much more credible when you’re using statistics from a third party source, instead of trying to convince buyers and sellers you’re right—because you know you’re right!
Before you read this, take my true-false ‘exam’ to test what you know about Realtor trends. Click here to get it.
How did you do on the true-false ‘exam’? I didn’t create it to ‘test’ you. I created it to crush some old assumptions. And, I want to point out what some of these trends mean to you and what we need to do about them.
Note: These reports are available at Realtor.org at a discount for Realtors:
In the next few blogs, I’ll discuss some of these true-false statements and show how they’re important to you. I’ve put the number of the statement before my comments. Let’s tackle #11 first, since it’s time to review your business for last year (2016) and put together your business plan for 2017.
Revealing Survey Results for Best Source of Business
- According to the survey, a total of 32% of a Realtor’s business came from past clients and referrals. Doesn’t that seem like very low numbers to you? In fact, 29% of Realtors said they got NO repeat business! That means, as a real estate owner once told me, “That agent is in the business one year twenty times.” And, even more shocking: 21% of Realtors said they got NO business through referrals! And, the median was only 18%.
Do you know what your sources of business numbers are? If you’re a committed real estate agent, you should be getting 70%+ of your business from past clients and referrals. Measure your sources of business right now, and make a plan to capture ____% of your business from these best sources for 2017. Join me in my complimentary business planning webinar on Nov. 8 and I’ll tell you what I think a ‘safe’ number would be as a goal.
If you’re like most real estate professionals, you create some type of a business plan this year. But, maybe it didn’t work for you. Or, maybe—you just didn’t work it! Join us Nov. 8 at 3 PM Pacific time) to get the answers you need—and the inspiration—to make a bullet-proof plan for next year.
During this fast-paced webinar you’ll see:
Why your plan probably didn’t work for you—and what to do about it
- How to definitely find out what will work for YOU (not someone else’s plan!)
- How to anticipate market shifts (!)
- What to STOP doing in 2017
- What one thing will assure your business plan works
- Bonus: 10 Creative Marketing Ideas for your plan
- The strategic planning process created exclusively for real estate professionals by Carla Cross
- Review: Your best sources of business (so you know what to keep doing and where to stop spending marketing $$$$$)
Managers: You’ll get tips on how to help your agents create great plans!
Click here for more information on the webinar and to register.