To improve conversion rates, reach out to your community, sphere, and previous clients as much as possible.
Building trust with customers takes up a lot of time in a relationship-based business like real estate, making it difficult to move tens of millions of dollars in sales volume annually. Recently, three leading producers discussed how, despite their companies' rapid growth, they had improved their customer outreach and workflow while preserving work-life balance. At a virtual NAR NXT UP! session led by Shannon King, GRI, broker-owner of Island Living Homes in Kailua, Hawaii, a group of former 30 Under 30 honorees—who were identified by the National Association of REALTORS® as young leaders in the real estate industry—shared strategies for managing their hectic schedules.
They gave attendees the following suggestions:
Assign outreach duties per day. In real estate, it's simple to fall victim to the "always do more" mentality, which may lead to extended work hours and a distorted work-life balance, according to Koki Adasi, CRS, executive vice president of Compass Real Estate in the Washington, D.C., area. He sets daily targets for customer outreach using an Excel spreadsheet: He promises to make three phone calls to his sphere every day, sends one video every day, such as a personal "happy birthday" greeting to a former client or a "thinking of you" message to his entire sphere, two handwritten letters, and three CMAs to former clients. "It's a fairly straightforward list, but I follow it every day," he explains.
Expand your collection of videos. The goal of the collection of real estate movies made by Sarah Maiga, broker-owner of Maiga Homes Luxury Real Estate in Canton, Michigan, is not to acquire fans. Rather, she leverages her videos to boost referrals and lead conversion. She has produced a series of brief movies that address a variety of subjects, such as shrinking resources, buying new construction, home buying 101, and how to buy and sell at the same time. In order to boost productivity, she hires a professional cameraman to record 15 quick movies all at once, which she then posts on her social media platforms once a week. According to Maiga, "it helps get that face-to-face interaction and shows me as a market expert." "I get discovered on YouTube, and people treat me almost like a celebrity."
When marketing, be genuine. Salesperson Kadee French of Keller Williams Central Oklahoma in Edmond, Oklahoma, posts pictures of her cherished Cavachon poodle, Kiah, on social media. French uses her dog as a mascot for her company, and she makes humorous cards or memes with Kiah in costume to fit in with the holidays. In addition to sharing photos of her cat, French uses social media primarily to respond to posts from her clients, such as congratulating them on life milestones like the birth of a child, or to highlight her community service and charity work. According to all three of the presenters at the NAR NXT UP! event, social media posts that have nothing to do with real estate receive the most interaction. Adasi's Instagram feed, for instance, showcases "Monday Morning Motivation" videos.
Arrange a gathering. activities like a wine tour in Virginia, boat tours in Annapolis, Maryland, or cooking courses in downtown Washington, D.C., are among the quarterly client appreciation activities that Adasi organizes. Additionally, he will extend invitations to clients for smaller gatherings that focus on making an impression. For instance, his brokerage treats clients by using four NBA season tickets for the Washington Wizards, complete with VIP court access, at 41 games. View further suggestions for gatherings that honor clients.
Adopt a give-back mindset. The panelists discussed the value of volunteering and figuring out ways to give back to their communities, whether it means volunteering or making charitable contributions on behalf of clients. Along with Kiah, a qualified service dog, French participates at events for a senior residential facility and is a member of the Junior League of Oklahoma City. "It encourages you to socialize and form close relationships with others," French explains. In collaboration with the local police department, schools, Rotary Club, and five other local organizations, Maiga planned a "Dump and Donate" day to conduct a food, clothing, and furniture collecting drive. Thirteen trucks were loaded with donations by volunteers during the occasion. According to French, "it was a great service for the community and it didn't cost any money to organize."