The end of the year is an ideal time to reflect on your real estate business and discover new ways that your team can provide more value to the clients you serve. As a team leader, you understand the importance of the referral side of your business and how it can easily be the backbone for several transactions a year. As we prepare for a successful 2022, I invite you to try a simple activity that will help enhance your team’s value proposition. By brainstorming ways to deliver more value to your Top 50 database, you can make 2022 your most profitable year yet.
Top 50 Explained
Creating a Top 50 list is the key to unlocking the referral side of your business. To get the number of referrals that you want and to achieve a high level of business in real estate, you must form strong personal connections with these individuals—that is the value of creating a Top 50 list. The key to a good Top 50 touch campaign is consistent, meaningful communication.
– “Consistent” here means monthly, which means that every single person in your team’s Top 50 should receive a touch from you every single month—just three touches per business day
– “Meaningful” means “personal,” such as a phone call, a face-to-face visit or thoughtful message—not just a text or a canned drip email
The key to this list is that it must have exactly 50 people on it—no more, no less. The reason for this is that if you try to have a strong personal connection with all your sphere of influence, it’s not possible, you can’t do it with 400, 300 or even 200 people—50 is the perfect number of people who you like well and who like you back enough to send you referrals year-after-year.
Top 50 Brainstorm
At your next team huddle, have each of your team members think about ways to add more value to their Top 50. Do this on a whiteboard, by sharing your screen or simply on a large sheet of paper in the front of the room. Every agent can benefit from these ideas, so it is best to do it as a group activity. Have every agent share at least one idea.
Here are some examples that you can start with:
– Implement the use of more video content in your text messages, email, social media, etc.
– Think of sending market updates, birthday greetings, house-a-versary cards, etc.
– Get creative with new event ideas.
– Breakfast drive-bys, ice cream in the park, pie giveaways just to name a few
– Design more personalized outreaches.
– Reach out to clients with pets on “Love Your Pet Day!” Send or deliver a small gift for the client’s pet.
– Instead of sending or delivering premiums or gifts, consider making a donation in their name to their favorite charity.
After you’ve brainstormed and discussed as a group, make sure each person has a copy of the new ideas so they can add them to either their personal Agile or the team Agile. This will ensure they can be executed at a later time.
When we talk about high-touch systems, we want to be able to launch processes that keep us at the front of the mind of our clients for the life of the client. Take advantage of the “WSS Top 50 Monthly Initiative Strategies” found in the back of the 86-50-1 e-book. It offers a calendar with relevant strategies and initiatives for unique “touches” each month of the year.
Reach out to firstname.lastname@example.org for your copy of the 86-50-1, and get extra monthly touch ideas for your team. The specific plan includes not only why you should correctly nurture and work your relationships, but also how to do so at a level that will yield returns for years to come. Focus on providing value to those who already know, like and trust you. If your office already implements the Top 50 strategy, now is a perfect time to update and refresh that list before the new year!
Verl Workman is the founder and CEO of Workman Success Systems, a real estate consulting company that specializes in performance coaching and building highly effective teams. Contact email@example.com for more information and free downloadable resources.