My Home Leasing

Developing and Engaging Your Sphere of Influence

A realtor’s SOI is referring to their sphere of influence, this is definitely something that every salesperson needs to know about and Realtors are no different. Your sphere of influence is people that you know professionally and socially. WHAT IS THE FIRST STEP YOUR REALTORS TAKE IN LEVERAGING THEIR SPHERE OF INFLUENCE IN REAL ESTATE? The First Step that you need to take is you need to identify who your sphere of influence is, so we create a list. At that point we’re thinking about family, we’re thinking about friends, we’re thinking about vendors that we work with, the person who does your dry cleaning, the person who cleans your car, your attorney, your doctor, you know all of these people are people that should be incorporated into your sphere of influence. It should be a very large and healthy list. Once you develop that list we need to catalog that somewhere. We’re going to put that into our CRM database so that you can plan further followups. That’s ultimately the way that you create the list in the first place. WHY IS DEVELOPING YOUR SPHERE OF INFLUENCE SO IMPORTANT? It is crucial to your success. Think about it, these folks that are in your sphere of influence they’re kind of like your warm leads. You already have a connection with these folks. A lot of the business that you’re going to be developing as a realtor might be with folks that you have no connection with, so you’re going to be trying to figure out a way to endear yourself to them so that you can have a business relationship. However, the ones that are in your sphere of influence, these really for most Realtors tend to be their first sales because they do have that connection already. Ultimately it should be an easier conversion to be able to work with your sphere of influence, and that’s why it’s so important. AFTER A REALTOR CREATES THEIR SOI LIST, WHAT IS THE NEXT STEP? Engage. You’ve got to engage that list, so you’re picking up the phone and you’re calling each one of these contacts in your sphere of influence, letting them know what you do, letting them know that you’re you’re open for business. Engagement of that sphere of influence list is absolutely the next step. WHAT SHOULD A REALTOR SAY WHEN THEY REACH OUT FOR THE FIRST TIME? Keep it simple, always keep everything simple. You’re making this casual telephone call and you’re asking for their help. You’re saying that this is what I do for business, and I want to grow my business and I’m looking for your help in order to do that. Here’s how I can serve you, here’s how I can serve people that you know, help me develop my business. It’s a very casual conversation. ONCE THE INITIAL CONTACT IS MADE SHOULD THE REALTOR CONTINUE TO REACH OUT? Absolutely they need to continue to reach out, and the great thing is that there’s a lot of different formats that we can use in order to reach out. We made that first casual phone call, the next might be a text message followup, it might be an email followup. We love using newsletters and we send out a monthly newsletter to let our clients know that this is what we’re doing today. It reminds them the business that we’re in. Don’t forget to leverage social media as a great way to stay in front of your clients and let them know what you do as profession. My Home Leasing is a property management company consisting of a skilled group of Residential Real Estate Professionals, serving Charlotte, NC. The realtors at My Home Leasing are highly trained rental property management experts in the market of Condominiums, Townhomes and Lofts. Let us provide property management services [https://myhomeleasing.com/property-management/] for your Charlotte, NC home today! The post Developing and Engaging Your Sphere of Influence [https://myhomeleasing.com/developing-and-engaging-your-sphere-of-influence/] appeared first on My Home Leasing [https://myhomeleasing.com].

Roundtable Meetings

In this video we’re going to talk about our Roundtable meetings. These are bi-weekly meetings that we have every other Wednesday at 10:00 a.m. All of the offices get together for this meeting, it’s been great for the group. We’ve been doing this for over 10 years and the meeting has been a huge success. WHAT IS THE GOAL OF THE ROUNDTABLE MEETING? The Roundtable meeting is to provide continued education for every realtor that works in the firm. We’re in an industry that moves very quickly we need to be able to report on what’s going on and hopefully make some predictions on what will be happening in the future. WHAT IS THE MEETING FORMAT? Well as the name roundtable meeting would suggest, this is an open format where every realtor from our firm that is at this meeting is part of the dialogue, so we’re really going around the room to hear from everyone. You know, when you’re trying to understand all the changes that we might have in the real estate industry and housing market you need everybody’s input and specifically when you’re trying to determine where the industry might be heading, what is the next big thing, you definitely want to hear from everybody you have in the office. So having all of our heads together and having an open discussion is something that’s been critical to our success. ARE THESE MEETINGS HELD AT ONE OF YOUR OFFICES? They are sometimes, but I would say that it is rare. 90% of the time we’re going offsite to learn more about a new product or project, generally these are new construction projects or they’re a listing that somebody might have in the office. We want to take the meeting opportunity as also an opportunity to learn more about a new townhome, house, or a new community, so offsite is generally what we do for the roundtable meetings. IS THERE A BENEFIT TO HAVING IT OFFSITE VERSUS IN AN OFFICE SETTING? All we have to sell in this business is our time, so what I’m always trying to do with every meeting is make the most out of it for everybody who is in attendance. We talked about the benefit of being offsite, being educational of a new product, so we’ve really found a way to create a meeting where we’ve got this open forum discussion on what’s happening in the industry and they’re learning about a new product at the same time, so that seemed to be a dual benefit that we couldn’t pass over. These meetings are an immense benefit for all involved, and I’m looking forward to our next discussion about real estate marketing. My Home Leasing is a property management company consisting of a skilled group of Residential Real Estate Professionals, serving Charlotte, NC. The realtors at My Home Leasing are highly trained rental property management experts in the market of Condominiums, Townhomes and Lofts. Let us provide property management services [https://myhomeleasing.com/property-management/] for your Charlotte, NC home today! The post Roundtable Meetings [https://myhomeleasing.com/roundtable-meetings/] appeared first on My Home Leasing [https://myhomeleasing.com].

Lead Conversion Training

In our last video we covered the Mastermind Group, which is one of our training opportunities for our new and veteran agents. The objectives for those meetings include closing out action items, creating new action items and tasks and of course talking about the customer relationships that we have so that we can each develop and grow. WHAT IS THE NEXT TRAINING OPPORTUNITY YOU CAN SHARE WITH US? You’ve heard me talk about our CRM platform before and CINC is our abbreviation for that. The next training opportunity that we’re going to talk about is CINC training, which we hold for our agents every other Wednesday at 2 p.m. WHAT IS THE CINC MEETING FORMAT? The format for this training is laser focused on the three most recent leads that have come into a Realtors pipeline. What we’re talking about is how did the lead come in, how did the agent handle the lead when it came in, and trying to figure out ways that we can better convert that client. WHAT IS THE CINC MEETING OBJECTIVE? The objective is quite simply client conversion. It’s been really fascinating to have these meetings, with the idea being how can we take a lead that is not a sphere of influence lead, not a warm lead, how can we take effectively a cold lead that’s coming in and to endear that person to you and encourage them to go on with the next meeting. Conversion is absolutely the objective of the CINC meeting training. HAS THIS MEETING BEEN A SUCCESS FOR YOUR REALTORS? It has been and it’s very measured. By putting every one of these leads up on the whiteboard and coaching agents on how they can better convert, it works for everyone. What we find is that Realtors who participate in the CINC meeting training have a much higher conversion rate than agents that don’t. WHAT WILL YOU SHARE WITH US NEXT? Next we’re going to be talking about round table meetings. We’re going to stick with this theme of Realtor training. I’m very excited to be able to tell you about what the round table meeting is and how it’s benefited all of our Realtors. My Home Leasing is a property management company consisting of a skilled group of Residential Real Estate Professionals, serving Charlotte, NC. The realtors at My Home Leasing are highly trained rental property management experts in the market of Condominiums, Townhomes and Lofts. Let us provide property management services [https://myhomeleasing.com/property-management/] for your Charlotte, NC home today! The post Lead Conversion Training [https://myhomeleasing.com/lead-conversion-training/] appeared first on My Home Leasing [https://myhomeleasing.com].

Mastermind Sessions

WHY IS COACHING SO IMPORTANT? Coaching is critical for everyone, I don’t care what industry you’re in. Whether it’s real estate or something else, everybody needs coaching. I’ve had a business coach myself and it had a huge impact on my career. We want to make sure that we can impart wisdom and give Realtors education in order to grow their business. MASTERMIND GROUPS The first resource that comes to mind for me is something that we call Mastermind group. This is something that’s held here at the office every Tuesday at 10:00 a.m. It involves getting a group together and going through a variety of different subjects. The meeting format for these is that we start with a completion of previous tasks. We close out each meeting with a task list, so we start each meeting with what did you accomplish from the previous task that you that you had self assigned? After that we’re going to go into an overview of three of the most recent clients that you’ve had. What we want to do here is share with the group how the transaction has occurred, what was the origin, and were there any hurdles, successes, or failures? That’s hugely beneficial to the group to be able to share those around the room. Then of course we’re going to close out again with those action items. We want to find something that we can be held accountable to, that we know will help promote our business and grow our business development. WHAT IS THE MEETING OBJECTIVE? The meeting objective is success. We want to make sure that our Realtors are prepared for more business success and that they can learn from potential mistakes and successes that other agents have made, so that they can adopt the best practices. This is all about promoting more business and having Realtors who are are trained for any environment. As far as other training and resources from the My Realtors firm, in our next video what we’re going to talk about is CINC training. This has to do with our with our online lead management, so I’m excited to talk with you about about CINC training and how that really helps our agents. My Home Leasing is a property management company consisting of a skilled group of Residential Real Estate Professionals, serving Charlotte, NC. The realtors at My Home Leasing are highly trained rental property management experts in the market of Condominiums, Townhomes and Lofts. Let us provide property management services [https://myhomeleasing.com/property-management/] for your Charlotte, NC home today! The post Mastermind Sessions [https://myhomeleasing.com/mastermind-sessions/] appeared first on My Home Leasing [https://myhomeleasing.com].

Open House Lead Sources

In our previous video we discussed the importance of direct mail and online marketing. In this video we discuss the next lead source that I would recommend to Realtors, which is the open house. It is a phenomenal way for agents to meet face to face with customers. IF I DON’T HAVE LISTINGS ALREADY HOW AM I GOING TO GET OPEN HOUSES? The great thing is that we’ve got wonderful internal relationships here at at the My firm, so what happens with the Brokers here is that at each one of our company meetings we are holding open what opportunities we have for open houses. What this could look like is perhaps Jane has a listing and Jane tells Barbara that she can go ahead and hold that listing. So that’s one of the great ways we do it here. If you’re working somewhere else and you don’t have that network set up you can certainly call other agents and see if they’re willing to let you hold an open house at their property. There’s always opportunities out there we just try to make it a little bit easier here by always promoting the idea that any agent in our firm can hold an open house at one of our properties. HOW DO YOU PICK THE BEST PROPERTY TO HOLD AN OPEN HOUSE AT? That’s a question that every agent should ask, not just you know can I identify the open house and where can I hold it, but which one’s going to get me the best return on investment? The first thing that I start with is, is it an area that you love you generally as a human being? As a salesperson you will perform better when it’s something you’re generally happy about and it’s an area that you like. I would also look at what the traffic count is in that area, how many people do I think might be able to come by? That’s a key component. You might find that you’ve got an enormous traffic count if your property is right on the highway, but nobody can stop from 80 miles an hour so that probably is not going to be your best opportunity. You might find a community that’s very well received, but this listing is tucked way in the back of the community and that might not be a very easy one to bring people into. We want to find something that’s easy to access so you have the best opportunity to bring a lot of buyers into that listing and have more conversations and more face-to-face meetings. HOW SHOULD YOU BEST PREPARE FOR AN UPCOMING OPEN HOUSE? Preparation is key so you want to prepare for the open house by learning everything that there is to know about the product, and understand that the product expands beyond the home. Certainly you want to know about all the features, amenities, and benefits of that home but you also want to know about the community and all of the amenities that the community has to offer beyond that. You also want to know where do things generally trade in this community, what are the prices in the community, how quickly do properties trade? Everything here is about your education on the product because you’ve got a prospect in front of you that you’re meeting with and now is your time to shine. In order to do that you need to have a proper education on what your product is beyond product knowledge. WHAT ARE SOME KEY COMPONENTS TO A SUCCESSFUL OPEN HOUSE? You’re geared up for the open house, you know everything that there is to know about that Community, but again it’s not going to do you a bit of good if nobody walks in that front door. So the next step on the agenda is going to be marketing for that community. There are a ton of ways that you could market an open house, but it certainly goes beyond just sticking a sign in the front yard. When do I get my signs out, the first key is that you don’t put your signs out the minute that you start the open house. You should be arriving there hours early, and if the community will allow for signs to be out much earlier I would be putting that open house sign with time and date and your cell phone number out a day in advance, two days in advance. This is also a great opportunity for you to leverage your CRM to reach out to everybody that is in your database and let them know that you’re holding this open house. Let them know that you are open for business, even if that consumer does not come by that open house you have now created a touch point showing them that you are out there in the field and that you are working. We want to have anybody come by the open house who can, these are all relationships for you to nurture. I like to leverage the community itself with hand delivered door-to-door invitations to come to the open house, or if I have enough time in advance, a direct mail into the community inviting all of the neighbors to come by and to take a look at that property. If there are neighboring apartment complexes, direct mail to the neighboring apartment complex to bring them by to see it. The more marketing that you do the more bodies will come in the more opportunities you will have in order to share all your wealth of knowledge on that Community AFTER GENERATING GREAT TRAFFIC, HOW DO YOU TURN PROSPECTS INTO CUSTOMERS? Turning visitors at an open house into customers is obviously one of the most important things. So we’ve done all the right things, we picked the right open house, we marketed it extremely well, we have a lot of traffic that’s going by, but now here’s a problem that I find with a lot of new agents who have been in the business for a short time fall into. They’ll hold the open house and will come back very happy that they had 25 people stop by the open house. But when we really start to dig into the coaching, what I find is that there is no followup in place and that there is no meeting scheduled, and that’s a big no no. You want to make sure that you do have the next meeting scheduled with each one of these individuals who stopped by. As you’re finding out more about what they’re looking for it should be creating an action item for you as an agent; “Great, I know that you’re looking for a three-bedroom two bath in this community, I have another listing that I’m going to send over to you and I’d like to show you that listing on Tuesday of next week”. With those appointments you ultimately will end up with a very very high rate of conversion of those visitors into clients. Now that we have covered our top three lead sources, in the next video what we’re going to cover is developing your sphere of influence and making sure that you have the right outreach to your sphere of influence to promote your business. My Home Leasing is a property management company consisting of a skilled group of Residential Real Estate Professionals, serving Charlotte, NC. The realtors at My Home Leasing are highly trained rental property management experts in the market of Condominiums, Townhomes and Lofts. Let us provide property management services [https://myhomeleasing.com/property-management/] for your Charlotte, NC home today! The post Open House Lead Sources [https://myhomeleasing.com/open-house-lead-sources/] appeared first on My Home Leasing [https://myhomeleasing.com].