On this coaching episode of my Monday Morning Pep Talk, I will take you through a concept that you can use to continue to shape your business while reframing how to look at your Top 100, your warm list, your hot list and your referral partner list. It's in a line of MMPTs that focuses on questions around your marketing and operational strategies such as "Are You Open For Business?" (157) and "How Many People Are In Your Top 100?" (159) Today's MMPT starts with another question I have for you: "How many salespeople do you have in your business, that person or persons that actively promote you and your business?"
Most entrepreneurs would scratch their head when asked this question, but at a minimum, there should be at least one, the owner of the business or in the world of real estate brokerage, the lead broker. Truly successful businesses have an army of "salespeople" that constantly promote the positive attributes of the business and actively refer and introduce.
For the sake of this conversation, a "salesperson" could be a past client, a referral partner, a family member/friend or a transaction partner that consistently promotes your business to potential clients, a person that truly wants you to win. It is my belief that for you, the real estate broker, if you identified, respected and nurtured 20 "salespeople," into your business, you would never have to prospect again. Those days would be behind you. This group of "salespeople" are a mix that comes from your Platinum, Gold and and referral partner lists.
If managing the full set of lists consistently is too overwhelming, identifying, respecting and nurturing just your "salespeople" is "The Lowest Common Denominator" business strategy you need execute if you want to create a predictable and enjoyable business. It is the ultimate long game strategy.
Let's dive deeper into what I mean by identify, respect and nurture. Since this is considered a strategy, a plan is needed:
Identify
- This group of "salespeople" are the connectors, the matchmakers. They love to promote others. Similar to Platinum, but different.
- Most "salespeople" have completed a transaction with you in the past but some haven't. They could have been in their 20-year house when they met you. They might be friends, family members or colleagues.
- Referral partners in other markets can be incredibly important to your business especially if they have a steady stream of clients relocating or buying second homes in your market.
- Some "salespeople" will surprise you. Others you thought for sure would be "salespeople" will disappoint you. Go into every relationship with a new client assuming they will be a promoter of your business.
- This group needs to be taught that it is okay to refer you. If you don't literally tell them that you "would love their introductions," they will assume you are too busy and not taking new clients.
Respect
- Once you have identified a person that finds his/her way into your business as a "salesperson," the relationship needs to be respected.
- This group should be your marketing and social media "avatars," your ideal clients. Build your marketing and branding to communicate to them.
- Each relationship should be full of "meaningful moments" and "meaningful conversations."
- This group will look at you as a "lifestyle" consultant not specific to just real estate.
- Every referral/introduction you get from this group should be recognized with significant gratitude and thoughtfulness (gifting).
- If they need advice or assistance, that call goes to the top of your list for the day. Response time is the biggest form of respect.
- If you don't have a list of trusted service providers, create one if only for this group. Jump in and help them solve their issues as they arise.
Nurture
- There should be an annual touch strategy built out for each "salesperson" in this group. You should not go more than 30 days without reviewing the relationship.
- Create a friends list on Facebook or a favorites list on Instagram to closely follow their successes and challenges.
- When appropriate, "strategically gift" to celebrate their life wins.
- This group does not get a birthday card, they get a birthday lunch or dinner.
- Be the first to show support during difficult times. They have shown support for you; you need to show support for them.
- Each one of these relationships should have an annual budget. They are the most important people to your business.
- If you cannot manage this level of hospitality towards this group, add capacity to your business by hiring someone.
Team, not only are we moving into a different market, we are moving into a brokerage phase where are clients will be demanding more and more from you. The days of being a successful "hobbyist" are coming to an end. The buying and selling public want a lifestyle consultant as much as a "a real estate broker" so you better have a strategy for maintaining your most impactful clientele.
You don't need a huge team to be successful and live a happy life in this business, but you do need a strategy, you do need lead generation and operational processes and this "salesperson" approach is the lowest common denominator approach. If you can't fully take care of your top, top people, it will be a long career made up of peaks and valleys. Honestly, nothing is more rewarding than getting a call, a text and email with an introduction from a past client or referral partner. Why wouldn't you build a strategy that created more of that feeling?
If you want to be an ELP (Elite Level Producer), you will need to make this mindset shift quickly if you haven't already. This real estate brokerage trend further proves my point that we are moving further and further from just selling homes to a much more active, life style approach to brokerage. Your clientele will want to know that you know how to "live" in a home and it's location as much as you know how to "sell a home." To do this well, you may have to create this level of experience with fewer people if you want your business to thrive . This approach I've presented today truly is the most boiled down approach to building a predictable and enjoyable business. With anything less, you'd have a hobby.
Let me ask you the question again, "How many salespeople do you have actively promoting your business?" and "When was the last time you had a meaningful conversation with them?"
For those of you on my email list, you'll get the recording, notes with links to supporting articles and podcasts and tomorrow morning. If you'd like to subscribe, just email my team at [email protected] and they'll add you.
