Looking at your past sales volume, have you sold a $70,000 house and then turned around to sell a $300,000 house? I know I have. Obviously, the $300,000 house is a much greater benefit to your pocketbook. Raising your average sales price can be a great advantage to real estate professionals. While many real estate professionals focus on overall volume, wouldn’t less sales at a higher commission rate still reap you the same (or greater) financial benefit? Wouldn’t having more time to spend with friends and family be nice? Let’s discuss how to work less and make more.
I recommend three ways to start increasing your average sales price:
- Socialize with those in higher-priced areas.
- Connect with local businesses and focus on business owners.
- Focus on clients you’ve sold higher-dollar homes to, and maintain those relationships.
First, we’re real estate professionals…so get socializing. Join a golf club or get involved in some social clubs where those around you are in a high-income bracket. Enjoying dinner and other events a country club may put on would be a great way to get involved and network. Sponsor a hole at golf outings, attend Sunday brunch and visit the pool on the weekends with your kids. You’d be surprised how quickly your kids can make friends, opening the door wide for you to introduce yourself to other parents.
Secondly, network with local business owners in networking groups by joining professional associations, attending local Chamber of Commerce meetings or Toastmasters Club International meetings. This is a great way to meet fellow business owners and managers in the area who may not only utilize your services, but can become a great referral partner for you, as well.
Lastly, focus on the clients you’ve sold higher-dollar homes to in the past, in addition to those in your sphere of influence. If you take care of your past clients and stay in touch with them frequently, you should be able to expect referrals because you’re at the top of their mind. Whether it be newsletters, handwritten notes, meeting for lunch or getting together for a couple’s date night, it’s important to stay in touch with past clients through several touches each and every year.
Now that you have three areas to focus on to get that average sales price increased, it’s time to put them into action. Set a measurable and attainable goal for the year. Track how many business cards you pass along at networking events and where your leads are coming from. And, most importantly, have fun.
Brooke Sines is a Workman Success Systems Coach and full-time REALTOR® with RE/MAX of Grand Rapids who has been in the business of working with people all of her life. After working for several years as an entertainment agent, she wanted a profession that would allow her to be home more to enjoy the day-to-day with her family. It was her love of people and real estate that led her into a career as a full time REALTOR®, where in her first year she was awarded the Rising Star award for sales and excellence. Contact her at Brooke@WorkmanSuccessSystems.com.
For more information, please visit www.workmansuccesssystems.com.
For the latest real estate news and trends, bookmark RISMedia.com.
