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Pro Tip: Fire Up Your Business with the Secret Ss to Winning in Any Market

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Will you try just about anything to reach your audience? Blogs, reels, mailings, give-aways, contacting anyone and everyone you once knew, and starting over each week? Keeping up with every latest marketing fad and lead-generating idea is exciting but also exhausting. Maybe instead of trying every new thing, committing to just a few, simple strategies can help you target your way to the top, says real estate business coach, Dr. Lee Davenport.

Davenport gave a presentation at C.A.R.’s REimagine! Real Estate Virtual Conference and Expo, where she outlined strategies for finding your best path to success no matter what the rest of the market is doing. The complete session is available to watch on demand here until Dec. 31, 2021.

The first step, says Davenport, is to Set Expectations. Tell clients how you work! What can they expect during the process of finding or selling their home? How will you help them, and sometimes even more importantly, what won’t you do? Telling people ahead of time how you work can avoid confusion, hurt feelings or worse, later in the process.

Part of setting expectations is leading with information about fair housing. Know and explain the protected categories in the state and explain why “love letters” are a bad idea. You no doubt understand, but your client might not have heard, that a hot market tends to lead to even greater inequity in the home buying process. Educate your clients about what you can and can’t do, according to the ethics code and state law.

The second S for success is Skip the Spaghetti Method. You know how people used to test cooking spaghetti to see if it was done by throwing a piece or two against the wall and seeing if it sticks? Well that method causes a big mess, cold noodles, and it takes a huge amount of time, money and energy—none of which are limitless. The Spaghetti method, of throwing everything against the wall and seeing what sticks, will not get you the leads you want. It turns in to a firehose with no target.

Instead, be strategic. It may be easier to work with buyers because they come to you. But Davenport recommends becoming a Listing Leader. While you work to represent home sellers, identify the niche you want to work with. Be sure, however, that this niche is not on the list of protected categories, such as race, gender, age, family status, ancestral origin or genetic information. Instead of targeting, one small demographic such as family status, race, or sexual orientation, think bigger.

Instead of saying a place is good “for kids,” “divorcees” or “empty nesters,” try saying “move up!” Instead of saying “single ladies,” say “first timers.” It’s important never to reveal marital or family status because it’s against the law.

Identify the population you wish to work with, as long as it’s not a protected group. Narrow to just one or two niches (that do not violate fair housing laws). Instead, use your usual strategies, but then segment your database and reach out to them. Use what you have more effectively. Two years ago it might have seemed strange to contact someone you haven’t chatted with in a long time, but that has changed because of the pandemic.  Now people are reaching out to others they haven’t seen in a long time. This works in your favor!

The third S is to school yourself on how to profit with your personality type. Dr. Davenport has a three-hour training course for CE credit that goes into this in detail, but for the short version, find out which tools and techniques work best for who you are naturally. Don’t try to be someone you’re not. If you’re naturally stable and someone whom others count on, join some groups that meet regularly. Not real estate groups, but other groups associated with hobbies, such as gardening or cooking or exploring locally. Make sure that they meet regularly and contain a steady group of people whom you can get to know personally. Chances are, you’ll be the only real estate person in the group, and then you have an instant source of leads.

For more information on using personality to find your best leads, and for the rest of the 5 Ss, you can watch the session from REimagine! or go to www.LearnWithDrLee.com.

 


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