Whether you’re an agent, team leader or owner of a growing brokerage, there’s one universal truth: You’ll find the most growth and success by effectively managing your network, also known as your sphere of influence (SOI). But what works best?
We know that serious teams and brokers use a customer relationship management (CRM) tool to reach their SOI to the fullest extent. According to The Close, REALTORS® earning more than $100,000 in gross commission are more than twice as likely to use tools like a CRM than agents who earn less. You’ve also probably heard that “a failure to plan is a plan to fail,” so aside from the following three tips for effective growth, remember that setting a goal to work toward using these strategies will provide your brokerage or team with the clearest path to success.
Use a CRM to stay in flow
Your CRM allows you to stay top of mind with your SOI to earn repeat business. According to Gartner research, 80% of your future revenue will come from just 20% of your existing or past clients. By exhausting the functionality of your CRM, including automated email campaigns, reminders, tasks, data fields like client birthdays, “house-a-versary” dates and more, you ensure that you’re constantly in touch. This solidifies you as the REALTOR® of choice when anyone in your sphere wants to buy, sell or refer a friend (this works for recruiting new agents, too).
Social media power
Speaking of staying top of mind, we all know that social media use is becoming crucial. As The Close points out, more than 30% of REALTORS® closed at least one transaction as a direct result of social media last year. Having a strong online presence allows you to brand yourself and become a more accessible and memorable REALTOR®—for free. No two social media platforms reach the same audience, so consider your most growth-worthy channels from Facebook to LinkedIn, YouTube and beyond. No matter the channel, remember to spread a consistent message highlighting your unique value and personality.
Establish a primary market
As you reach your current SOI with CRM touchpoints and social media, keep growing by establishing a primary market—a defined community you can dominate to rely on to become the household name for real estate. Establish a long-term marketing visibility plan to own your primary market, from sending regular mailers to hosting heavily promoted open houses, and make yourself unavoidable by meeting everyone in the neighborhood.
With clear goals and effective management of your SOI, thanks to CRM automation, social media reach and a well-established primary market, you’ll consistently grow the success of your team or brokerage.
For more information, visit http://www.vyllahome.com/.
