Real estate is a crowded market, with approximately 2 million active real estate agents in the United States. This large number can make it feel challenging to grow your business—often leading to the question: “How can I compete with all the agents I saw at that networking event?” The good news is that growth is well within your hands. There are various strategies you can implement to actively grow your business, reach new clients, and close more deals.
Keep these tips in mind as you take your real estate business to the next level:
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1. Be More Purposeful with Networking
Networking is vital for growth, but simply attending events isn’t enough. You need a targeted approach when networking. When you attend an event, your goal should be to connect with people who can help you most—whether it's for advice, financial support, or business growth.
Ted Rollins, a global entrepreneur, suggests, “Networking is most effective when you focus on building relationships with people who can help you achieve specific business goals.” Set clear goals for each networking event and aim to meet individuals who align with those goals. For example, find someone who can help you expand your business, or someone who can guide you as a mentor. The more purposeful your networking, the more successful it will be.
2. Improve Time Management
Managing your time effectively is one of the most important aspects of growing your real estate business. It’s easy to feel overwhelmed with an ever-growing to-do list. The key is to focus on high-impact activities rather than constantly playing catch-up.
Real estate agents often face distractions, especially when balancing office tasks and managing a growing amount of technology. To boost productivity, try using a time management tool like Trello. Plan your day, week, or month and ensure you allocate time for distractions like phone calls or emails. By organizing your time, you can stay on track and spend more time on tasks that directly contribute to growing your business.
3. Email Your Leads
Engaging with leads through email marketing is an effective way to stay top-of-mind. If you are already tracking your leads with a CRM system, it’s time to nurture those relationships, especially with leads who are still undecided or not ready to make a move yet.
Regular emails allow you to showcase your expertise in the local market or real estate knowledge, and remind potential clients that you’re available when they’re ready. Include a Call-to-Action (CTA) in each email—whether it's to read a blog post, schedule a consultation, or download a guide. Every email should have a clear goal, and your CTA will help guide leads toward that goal.
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4. Hire an Assistant
At a certain point in your business, you’ll find that you can’t do everything on your own. Hiring an assistant—even if it’s just for a few hours a week—can significantly improve your workflow. This additional help allows you to focus on higher-level tasks like meeting clients and growing your business.
If you can’t afford a full-time assistant, consider hiring a virtual assistant. A virtual assistant can take care of calls, manage leads, and assist with administrative tasks from a remote location. You could also hire freelancers for specific tasks, such as website updates or social media management, through platforms like Upwork.
5. Let Go of Fear
Fear of failure is a common challenge for entrepreneurs, including real estate agents. This fear often leads to avoiding high-value opportunities that could help you grow your business. Letting go of this fear can open your eyes to new opportunities and help you see the potential benefits.
Consider working with a mentor or business coach who has already navigated the challenges you face. A mentor can provide insight and advice to help you make decisions without fear holding you back. Many agents find that mentorship can alleviate concerns and provide a clearer path to success.
6. Ask for Referrals
A shocking 75% of a real estate agent’s business comes from referrals and word-of-mouth. This statistic highlights the importance of building strong relationships with current and past clients. To continue growing, you need to actively seek referrals.
You can encourage referrals in several ways:
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Offer referral rewards or gifts.
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Request referrals directly through your website.
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Make it easy for clients to refer you by including referral options in emails or on your social media platforms.
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Give thoughtful customer gifts to show appreciation for referrals.
Test different strategies to see which ones generate the most referrals and keep refining them to maximize your results.
Must Read: Why Do Real Estate Agents Fail?
7. Don’t Be Afraid of Social Media
Social media might seem daunting, but with over 2.8 billion users, it’s a powerful tool for growing your business. If you’re not already active on social media, now is the time to start—particularly on Facebook, which has the largest number of active users.
Here’s how you can use social media to grow your real estate business:
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Live video tours of new listings on Facebook. Even if viewers don’t tune in live, they can watch the replay and share it with others.
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Compliment new homeowners on Instagram to build relationships and increase brand visibility.
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Boost listing posts with small budgets on Facebook ads, targeting specific demographics like location, age, and income.
By being strategic on social media, you can effectively promote your business and reach a wider audience. Don’t be afraid to experiment with different platforms and ad campaigns to see what works best for your real estate business.
Conclusion
There are numerous ways to grow your real estate business, and implementing even a few of these strategies can have a significant impact. Whether it’s through targeted networking, time management, email marketing, or social media, the key is to take consistent action and make the most of every opportunity.
By focusing on referrals, seeking mentorship, and letting go of fear, you’ll not only enhance your skills as a real estate professional but also expand your client base and boost your success.
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