Every one of us need to learn the power of leverage. It is essential if we are going to develop a profitable and consistent business that is saleable. One of the key qualities of a saleable business is one that is system dependant not people dependant.
We will be demonstrating the two key components in a business relationship, character and competence, in a calculated consistent manner over the course of the relationship. We need to keep in mind that what we do after what we were expected to do will ultimately determine our success. People are homeowners far longer than they are buyers or sellers. Why not provide them value while they are homeowners to create loyalty?
Imagine for a moment, dictating how your business will produce and be able to count on the consistent income being generated by those people who like you, trust you and want to refer you.
Here is the proven program that will provide you a 15-40% yield (15-40 closed transactions per 100 people in the A-C categories).
Step #1 -
Identify all those people that you have a name, phone number and e-mail address for.
Please Remember!
• The average person knows 120 people.
• The average person knows 3-5 people who will buy or sell this year.
• 80% of people will find their next agent through personal referral.
Step #2 -
Make a qualifying call to each member of your Partner Program Database to receive permission to ongoing communication and to identify your supporters (call or e-mail me if you need the dialogs) – move those who qualify and who support you to your “Preferred Partner Program.” Use the following categories:
“A” – People who have referred you in the past – regardless of how weak the referral was.
“B” – People who have the capacity to refer – look for people who either are in a service industry (doctor, attorney, manicurist, salesperson, etc.), belong to multiple social groups (church, scouts, little league, rotary, etc), or have Christmas Card lists of over 150 people.
“C” – People that know you, like you, and trust you
“D” – People that are out of your service area
Step #3 -
Implement a value-added monthly client newsletter for groups A-C. (Call our Marketing Department today!)
Step #4 -
Host a personal event three times a year for everyone.
Step #5 -
Implement a mail-merged irregular, but systematic, electronic communication system for everyone.
Step #6 -
Maintain consistent phone contact every month to you’re a list, quarterly to B list and 2x a year for C and 1x a year for D.
Step #7 -
Get a hand-written personal note in the mail within a few hours of all conversations, meetings, or referrals (add a small gift card for referrals).
Step #8 -
Track your numbers! Continually purge and update your database to increase your yield rate. If you increase 26% per year you will double your business every 3 years.
Recommended Reading
Carpe diem,
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