EXP Realty Business Building

How to Build a Real Estate Business

➡️ It seems like many people get started in Real Estate because someone close to them suggested that they would be great at selling homes. I would suggest that you also be great at building a business that can grow with you. Soon, you will have your business on autopilot so your sales can become an automatic expectation.😎

Many agents get started selling real estate by announcing that they are available anytime you are. I can tell you for sure that I do not want to be a 24-hour real estate agent. I want to have a predictable business plan that has predictable hours., allowing me to work less and net more income.

I am going to share a few tips on building a business that delivers every year. If you will make the commitment to these things, your real estate business will become a business that you can be proud of. Building a successful business is simple, just not easy. And remember, when you find success, share it with others.!!


Be Authentic

In order for your customers to connect with you and become a client, they have to get to know you and trust you. The more authentic you are to your personality, aligning with your core values, the quicker you will gain that trust you are seeking from your clients. Create a unique selling proposition that can relay who you truly are.

Go the EXTRA Mile

When you are fully prepared, you are ready to deliver that extra special services that your clients are not anticipating. Helping the client achieve their desired results each and every time will win you more referrals from each closing. Build out a plan that exceeds the expectations each and every time. Create a personal accountability checklist that will help you remember to check off the task. Nothing like the feeling of wondering if you have done one thing that could have made a significant difference during the transaction. During the transaction, always look for things that the client doesn’t expect you to do. Create an environment that is fun and enjoyable, and as stress-free as possible, making sure that you check in with your client as often as you can. Sometimes, even without anything to tell, they appreciate hearing your voice.

Share your Vendors

If you want your business to grow, share who you know. Giving out referrals for your vendors will solidify you as the go-to resource for all things related to a home. Discover your best painter, carpenter, lawn service, electrician and general contractor. These vendors will appreciate you more because you are providing them with business as well. The client will always remember you when they share the home updates with their friends and family. Create a list that is easily accessible.

This is the most important part of the life cycle of any business!

Lead Generation

Lead Generation doesn’t have to be scary. It is, however, one of the least favorite things a real estate agent can do. Agents run from this activity, and if you will commit, and I mean commit to spending a minimum of 3 hours per day, or 15 hours per week, generating NEW business, you will become one of the top agents in the business. There are three basic sources that you can work to create new leads. You can work the internet, your sphere, and you can prospect the unmet people in your community.

Internet Lead Sources:

  • Paid leads from Google Ads or Facebook Ads
  • Post on Craigslist
  • Create organic traffic to your site from blogs and blog sharing
  • Organic traffic to Facebook
  • Past Client Testimonials

Sphere of Influence:

  • Calling your past clients
  • 10 * 10 * 10 Text messages, Facebook Message and Email per day
  • Video Message on Birthday, Anniversary or Big Events
  • Drip Campaigns to touch the database regularly
  • Send handwritten notes
  • Drop by the house and leave an item of value

Prospecting:

  • Call expired and FSBO Sellers
  • Send out Just Listed and Just Sold Postcards
  • Circle Prospect open houses and new listings
  • Host as many open houses as you can
  • Attend as many networking events as you can
  • Attend Business Masterminds
Know where your leads are in the process.

Funnels are the best way to describe your lead flow. Everyone should start out every year by identifying their top 50 people that will become the advocate for your business. Treat these guys with all the gusto that you can. Make a point to schedule an appointment with an advocate at least once per week during the year. Share your journey and ask each of them how you can be a benefit to their business or family. I am sure that they will tell you. Leave the meeting knowing that they will think of you first when someone they know is needing real estate help. Now, the pipeline. Every new lead should take a high priority and you should reach out to the new lead as soon as you can. Speen to the lead is paramount to success in securing the appointment. When you get to talk to the lead, you then have to qualify the lead. Are they someone to watch the activity on the site, do you nurture them for a possible long-term future sale? Or are they a HOT lead? A hot lead is a lead that will write a contract within the next 30 to 60 days. Push these leads through the funnel. Remember, that nurture can become hot sooner than you think with the right level of follow-up and priming of the pump. Stay in touch, stay in touch, stay in touch!! Creating the systems will ease the burden for you to feel like you have to be the one to do this every single day.

Follow Up Plan for new leads:

  • 10 calls 📞
  • 7 emails 🖥
  • Daily listing updates 🏡
  • 3 voicemails 📲
  • 6 text messages 📱
  • if no contact, archive, 😢

Creating the right drip campaigns for buyers, sellers, and SOI is also essential. It doesn’t have to become this top-notch marketing campaign, just something to let them know that you are ready when they are.

If it isn’t on your calendar, it just doesn’t exist.

We can get frustrated because our conversion rates are low. When this happens it is because of one or two things. Either we are not committed to our time to lead generate or we don’t know what to say. If we are spending the right amount of time lead generating, we will naturally get better at converting.

Track and measure everything! You have to know your data. There is just no other way to say it, track it, track it, and track it!! Knowing how many calls you to make to get someone to talk to you is so important. Then know how many conversations it takes to get an appointment. How many appointments to a contract? How many contracts to a closing? These are very important metrics for every agent to know. You can even dig deeper by knowing how fast are you getting back to every new lead or phone call? How many times are you following up? Then knowing your close rate will only help you get better with each and every call.

For every successful business, the plan is to get to a place where you can work smarter, not harder. This comes from time practicing scripts and dialogues, gaining confidence, and performing the tasks each and every day. Setting daily, weekly and monthly goals will create the competitive environment that most agents thrive in. Meet with other agents to help you hold yourself accountable to the goals and activities. It is helpful for both of you.

When you can, hire a business coach. It will be the best investment you can make in your business and your personal life. Let a coach guide you through the many ways you can find trouble, helping you get to success faster!

Every Successful Business has them, do you?

Leverage through the right systems will save you time and save your sanity. Get them dialed in as soon as you can. Technology can help in so many ways. From the reminders to the duplications, get it done without you having to stress over it is so important to the growth of your real estate business. You need to be best in class in technology and in training. Get both done as soon as you can.

Get your CRM dialed in as quickly as possible. Several great systems out there. Follow-up Boss and Lion Desk are great. For Google leads, check out Commissions Inc, Boomtown, or Firepoint. CTE or SISU for tracking needs. Find a Dialer that works for you so you can get through the list faster! Engage your SOI with Vyral Marketing.

Profit and Loss

Always be aware of what you spend. Work to get your vendors to help you zero out your costs with Marketing Agreements. Add in service fees to your commissions to help offset transaction coordination costs. Know what each line items do to help you grow your business. If you don’t know or can’t identify what it does to help, cut it out. Remember, if there is a job that someone can do that you are unwilling or unable to do, that will allow you the freedom to do more of the things that you like and enjoy. By doing more of these tasks, your business should grow further and faster! Always be thinking like a CEO!

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About the author

Rick and his wife Vanessa live in The Woodlands Texas and they have 3 superstar kiddos. They are big fans of music and sports. Rick moved to Texas in 2002 and loves his family and friends and being a big part of the local community.

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