Realtor Systems for more Commissions
Posted by Mark Martella on Wed, May 15, 2013 @ 10:15 AM
REALTOR TIPS TO INCREASE COMMISSIONS
One of the books that I have read over the last few months is the “E-Myth Revisited” by Michael Gerber. This is a book that I recommended at my last Realtor® seminar hosted by the Punta Gorda-Port Charlotte-North Port Board of Realtors.
In his book, Mr. Gerber outlines how for any small business to succeed it must have systems in place, just like a franchise such as McDonalds, that allow it to function at a profitable level without the small business owner having to wear 20 different hats. The principles discussed in his book apply equally to a person who may be a one-man shop, like a realtor. Having effective systems in place can greatly increase your odds of success. While your franchise such as Coldwell Banker and ReMax have proven systems for ALL of its realtors, the question that you must therefore ask yourself is: “What individual systems am I using to set myself apart?” Without your own personal systems, you are merely a part of the herd of realtors in your office and in your community trying to attract and in an ever shrinking supply of potential customers.
In my last seminar, I provided a 101 Point Checklist for Realtors to use. It covers from when you first sit down to prepare a contract offer all the way through closing. I am pretty sure prior to that seminar that no one was using such a comprehensive checklist as part of their closings. This checklist is just one system that you can use to set yourself apart. Other systems you can have are systems for attracting potential clients to you pre-listing or even before they may be considering buying or selling a house. You need a system to begin developing relationships that in order to form a bond of trust and setting yourself apart as an expert. Then, after the closing, what are you doing to maintain the relationship with that hopefully happy client?
Another question you must ask yourself is: “What is the lifetime value of a client”? In other words, what are you willing to invest to get a client AND then keep that client for the future? While in the real estate business, an average person may only need your services once every seven years, that client is also an invaluable resource for potential referrals. How much are you willing to spend to maintain that relationship, keeping it in mind that it is 7 times more costly to get a new client than to keep a current client?
If you are looking for assistance and direction in creating and developing these systems to set yourself apart as an expert in your field and, create a client relationship that makes them a client for life and one of your “raving fans”, I would recommend that you sign up for my upcoming free seminar on April 11, 2013 starting at 11:30 a.m. entitled “From Showing to Closing” in which I have teamed up with Rob Oliver, of The Oliver Group DIRECT, a nationally known marketing expert.
In this seminar, we will provide you with tools that you can use to obtain clients, to impress them during the closing process and after the closing process, and to maximize your investment in them. This will be a win/win for anyone who attends since in addition to the great information you will be provided, we will also be proving you with a complimentary lunch from Carrabbas. Space will be limited and seats will be reserved on a first come, first served basis. You may make your reservations by contacting David Logan at the Board of Realtors. This is a unique seminar that will not be offered again this year, so please do not miss your opportunity.
Finally, if you were unable to attend my last seminar and would like my 101 Point Checklist, feel free to contact me.
Contact a Real Estate Attorney
If you have a situation as we described in this article and have questions or concerns, please don’t hesitate to contact us to answer your real estate legal questions.
Martella Law Firm
18501 Murdock Circle, Suite 304
Port Charlotte, FL 33948