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Five simple things you can do right now to begin scaling your real estate business to the next level.
So, you finished real estate school, and you’re excited to start building your database, closing deals and putting up numbers. But there’s a problem: it’s more complicated than you thought.
It’s good to be ambitious, think big and have long-term aspirations — such as selling a certain number of houses per year or becoming a top producer at your brokerage.
However, setting long-term real estate goals without a short-term game plan is like trying to race a marathon without putting in any miles beforehand.
To succeed in the long term, we have to learn to focus on the small wins in front of us — the targets we can hit today or each quarter of the year.
This kind of success-based interval training builds entrepreneurial muscle. It shows us that achieving our bigger, lofty goals is usually a matter of knuckling down and putting in the miles, one day at a time.
Here are five easy real estate wins you can action on today.
Win #1 - Streamline your processes
One of the first things I notice when coaching a new Realtor is how much time they spend working on business-related tasks that they don’t actually need to be doing.
Even with a small budget, you can use many technology and business hacks to streamline your business processes.
Client relationship management software can help you efficiently manage and track leads and maintain your database, while AI software like Chat GPT can assist in planning, generating, and even writing content for regular social media posts and marketing.
You can also look into getting a virtual assistant. As virtual assistants can be paid hourly, you can delegate work depending on what you need and what is in your budget.
Win #2 - Develop a consistent routine
Creating a consistent routine and plan for each day of the week is one of the easiest yet most underrated ways entrepreneurs can ensure success.
For Realtors®, creating a consistent schedule (even when you aren’t super busy with deals or selling houses) ensures you don’t procrastinate on aspects of your business that are essential to its growth.
As a new Realtor, it’s all about prospecting. Set your prospecting time for times of the day when you feel most fresh and inspired or are buzzing off endorphins from a workout. And make sure you schedule appointments outside of your prospecting time.
Once you’ve set your schedule, stick to it, no matter what.
Win #3 - Implement ‘Set-met-signed’
How many appointments did you set? How many people did you meet? And how many of those people became clients?
It sounds simple, but ‘set-met-signed” is a leading indicator for future business that also gives insight into your process and where you may need to direct more time or energy.
Setting a whole bunch of meetings is excellent, but if you’re not converting anyone into clients, it's time to look at how you communicate with potential clients and nurture leads.
In addition, once your conversion ratio ( the rate at which you turn meetings into a buyer or selling clients), you can focus on exactly how many meetings you need to set and how many conversations you need to start to hit the numbers you need to achieve your long-term goals.
It’s helpful to think: ‘Okay, if I want to sell this many homes, I need to set this many meetings and meet this many potential clients.’
Win #4 - Use a Monthly Business Assessment Spreadsheet
I know — not everyone is a numbers person. But you don’t need to be a numbers expert to log your key performance indicators.
Almost every Realtor I’ve worked with who claims they aren’t a numbers person ends up feeling empowered the minute they start to track their numbers on a monthly basis.
I still use a simple monthly business assessment spreadsheet as one of my essential business tools. It’s easy to use, takes five minutes to fill out, and you can get it for free on my website.
Win #5 - Find a real estate mentor
You just got out of real estate school, so why do you need a coach?
Simple. There’s a whole bunch of stuff you don’t get taught in real estate school: how to prospect leads, manage a business, and negotiate with a win/win mindset.
Inevitably, you’ll learn these things by working in the trenches, but why take the long road when experienced agents are willing to share their knowledge so you don’t have to make the same mistakes they did?
A good real estate mentor will share their trade secrets, keep you motivated, plug you into a network of like-minded agents, and be invested in your success.
When you’re looking for a mentor, check what their achievements are and ask questions. Be aware of agents who promise you the world but might not have the numbers, business model, or experience to back it.
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There you have it…five quick wins you can action on right now to start scaling your real estate business to the next level.
As always, don’t hesitate to reach out if you have any questions or would like to book a free business consultation.
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