Real estate is a competitive market, and various agencies will try to remove your business or clients. Knowing how to make your mark in the field and stand out among these competitors is essential. A few things are crucial for your business and can guarantee success if you genuinely invest in it and use it the right way. You need to know where you stand in the market to make a goal, and it’s not only about your agency but also about you as a professional. Improving the business is essential but improving your skills as an agent is equally important. The millionaire real estate agent (MREA), a book by Gary Keller which came out in 2003, talks about these key factors or tactics that improve your game and still make sense in today’s digital world.
Understanding the value of all these combined skills helps you achieve your goal, no matter how big or small. It requires dedication and a clear mind to understand what you expect from your business and where you want to take it.
Here are the top 3 insights that can help you get started with the goal of your business.
3 Core Pillars:
Gary Keller mentions the three L’s of success and sustaining in the realtor business- Leads, Listings, and Leverage. Each of these is related to one another and holds equal weight. Leads are your potential clients, and your primary focus should be to convert these leads to clients using all your resources: communication, understanding, negotiation, everything. Until and unless you don’t have clients, there is no business, and there are no listings. Completing these contracts should be done through leverage, that is, using all your resources, handing out clerical work to people, using tools in today’s world for ease, and using that time to make long-term bonds with clients.
Focusing on your database keeps you in the game and helps you analyze your progress. Adding contacts to a database may sound easy, but the work is not. It enables you to follow up with clients and understand your clients. Increasing your database by three contacts daily can help you reach the goal you have set for your real estate business faster. With every contact, the aim is to build it and make a sale. With this, you can make 720 contacts within a year, and as Gary says, 4000-6000 contacts are nothing less than an MREA.
Time blocking is something very vital as an agent. You need to know the peak hours of every area and which functions around what time to know where you need to invest your time. For example, you can focus on lead generation in the morning because house visits or property visits happen after office hours for many couples and families.
The book, Millionaire real estate agent gives a lot of insight into growing and sustaining a big business and not just real estate but other businesses too. The secrets and essential points mentioned by Gary Keller explain how each part of your business can be improved by providing it with the attention and detail it requires.