The ability to create and maintain positive momentum is one of the most powerful forces that can be harnessed for business success. With a market that is challenging, many agents find themselves lacking the momentum they once had.
This article shares a step-by-step process for regaining your momentum and propelling your business to new heights.
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So what does it take to create momentum? For this article I will be utilizing an acronym for the word evaluate.
E: Evaluate your past transactions
Everything starts with evaluation. The first step in your process is to evaluate how you generated the leads that led to your past transactions.
Create a list with all the transactions you’ve closed over the past few years. Out to the side of each transaction, note the origin of that client as a lead.
You should begin to see a pattern of one to three strategies that have generated most of the leads that led to your past transactions. Once you’ve compiled this list and understand what has worked for you in the past, we are ready to build momentum.
V: (Become) very focused on past transaction strategies
The evaluation revealed the strategies that have worked in the past. By becoming very focused on executing those strategies at an elevated pace, momentum will begin to build.
If referrals generated most of your past transactions, stop buying leads and start inviting members of your sphere of influence to lunch or coffee. Deepen those relationships and more referrals will come. If online leads generated most of your past transactions, double down on your investment in online leads and become obsessed with your follow up plans for those leads.
Whatever worked for you in the past will work for you now if you become very focused on executing those strategies at the highest level possible.
A: At least 2 open houses each week
Nothing creates momentum more than being face-to-face with potential buyers and sellers. The fastest way to make that happen is by hosting open houses. To build momentum, I suggest hosting a minimum of two open houses every week.
If you need to build momentum quickly, become obsessed with hosting as many open houses as you can possibly host and don’t limit yourself to just two. The more time you spend in front of potential buyers and sellers, the faster you will create the positive momentum you desire.
L: Leave no past client untouched
If you’ve lost momentum, go back to the place or places where you last had it. In this case, go back to the people that have done business with you in the past. Your clients that bought or sold with you already know, like, and trust you. Build momentum by reengaging with them.
This can be accomplished through check-in calls, invitations for coffee or lunch, or by providing unexpected value with an unsolicited video CMA on their home’s current value. The key is to re-engage and by re-engaging, opportunities for additional transactions with them or via referrals will occur.
If you’re looking for ways to create clients and referral partners for life, this article shares ways to wow your past clients and to stay top of mind.
U: Utilize artificial intelligence
Artificial intelligence offers several ways to build momentum in your business. The first way is by utilizing the time you currently have to optimize the systems in your business. Ask ChatGPT to write SEO-optimized descriptions for your bios on each social media page. Ask ChatGPT to provide you with a series of emails for follow-up with a new online lead that shows the value of working with you to purchase their home.
The second way to use ChatGPT is to ask it to help you draft an email checking in on past clients with a soft call to action asking them to keep you in mind if they hear about friends or family members considering the sale or purchase of a home.
Finally, ask ChatGPT to give you 20 ways a real estate agent in (your city) can market themselves in a unique way to generate sales and regain momentum in his or her business.
If you’re still not sure how to utilize ChatGPT and AI to regain momentum, check out this article with 40 ChatGPT game-changing prompts every agent should be using.
A: At least 2 hours of prospecting
Prospecting is non-negotiable. Odds are, if you’re lacking momentum, you’re simply not having enough real estate-related conversations to gain traction. If lack of momentum is the problem, then the discipline of a minimum of two hours of time blocked every day for outbound prospecting calls is the solution.
These can be calls to past clients, sphere of influence, online leads, or homeowners around a recent sale. The key is consistency. This isn’t a one-time fix-everything solution. This is a daily practice that consistently yields listing and buyer opportunities.
If I only had one option that I could choose to regain momentum, a minimum of two hours making outbound phone calls is the strategy I would choose to ensure my success.
If you still aren’t sure how to generate leads that provide you an opportunity to have conversations, this is an article with 40 ways to generate leads right now.
T: Take over a neighborhood
Geographical farming is the best strategy for generating consistent listing opportunities. Being recognized as the expert resource for a specific neighborhood or area breeds momentum.
This is accomplished through consistent direct mail, hosting open houses in the neighborhood, becoming active in the community, and finding unique ways to add value to the members of your targeted community.
If you’re not sure where to start or you’re looking for a refresher on geographical farming, this article provides the step-by-step process.
E: Equip yourself for success
Your business can only grow at the pace with which you are personally growing. What are you doing to become the best version of yourself? Are you becoming healthier both mentally and physically? Are you studying your market in a way that sets you apart as the most knowledgeable agent in your market? Are you learning new strategies on how to serve your clients at a higher level?
Creating momentum in your business starts by creating momentum in yourself. Accelerating your personal development will accelerate your business development. Start with you and everything else will take care of itself.
If you’re looking for ways to prepare yourself and your business for success, this article shares how to outperform 99 percent of all agents .
Momentum is one of the most powerful forces in nature. Even though you can’t see it, you know it’s there. It’s time to re-engage in your business.
It’s time to stop waiting for things to happen and for you to make them happen. Your business needs you to be the best possible version of yourself. Your clients deserve and need the best version of you. Take the action needed today and momentum will follow.
Jimmy Burgess is the CEO for Berkshire Hathaway HomeServices Beach Properties of Florida in Northwest Florida. Connect with him on Instagram and LinkedIn.