Balance Your Real Estate Business

To grow your business while your personal life thrives in tandem, efficiency is key. Simply put, to maximize the time you’ll have to be truly present outside of your business, you need to do everything in your power to be efficient with the time you spend inside of your business.

This is why understanding the power of relevance is so important.

Relevance is the root cause of every opportunity you’ll ever have to grow your business. It’s the reason why, with proper planning and execution, growth in real estate should get easier each year. Prospective clients will seek your services or agree to meet with you for one of three reasons.

At Balanced Busy, we use these reasons as the backbones of our three Business Sources.

Real estate agents have the most relevance with the people they market to in their Repeat + Referral group. Talented agents will close 80%+ of opportunities in this category. Marketing to this group is highly efficient because the prospects already, as my friend Jason Pantana says, like, know, and trust you.

The only catch? It takes time to grow and cultivate prospects in this group. The main way to add people to this group is through completing transactions.

With video, this is where upward mobility lives in real estate!

While you won’t have personal relevance with prospects in this group, marketers who understand the power of hyper-local marketing can win business by sharing information that positions them as the preeminent neighborhood expert. When an effective, consistent campaign is paired with a healthy dose of local listings, agents can grow their business in a highly efficient manner.

While the close rate with prospects in this group will be lower than with Repeat + Referral leads, agents can grow their overall audience much faster here, making marketing to this group a highly efficient use of an agent’s time.

The best way to visualize marketing to this group is to imagine a yard sign as a fishing pole. The close rate working with prospects from this group will pale in comparison to the first two; the barriers to entry to prospecting here are the lowest. New agents who roll up their sleeves and pay their dues working with these prospects may burn some time in their early years, but they’ll be building the base on which success with Reputation and Repeat + Referral leads will be possible in later years.

The answer to that question is found through the creation of a thoughtful business plan; one that prioritizes what matters most to you on a personal level, and enables you to spend your time as efficiently as possible by marketing to people with whom you have the most relevance.

Every career is different, but an agent’s marketing mix, over the years, will probably look something like this-

Hustle

The most important thing for a new agent is building their skills, ideally alongside a strong mentor, through experience. This is why Information leads are so important to new agents. They’re the cheapest to acquire, from a monetary perspective, and they’re the hardest to convert, which means they provide loads of opportunity for the new agent to hone their craft.

The challenge here, from a Balanced Busy perspective, is making sure the agent can dedicate the time required in this “blood, sweat, and tears” phase without falling short on their personal priorities.

Muscle

As an agent experiences success, the fruits of their labor come in the form of increased relevance as they have more past clients to market to for Repeat + Referral opportunities and more experiences to share as they build their Reputation leads audience.

This is when things start coming together and business starts to become a lot more enjoyable. That said, as business obligations multiply, agents need to visualize their plan execution as having two halves, like yin and yang. With real estate being a service-based business where flexibility is required to match clients’ schedules, it will take practice and diligent focus for the agent to fluidly move between the two.

Brains

Once audiences have been built for effective Repeat + Referral and Reputation campaigns, the real fun begins as profits begin to multiply for agents who focus their time on the “highest and best” activities and delegate everything else.

Of course, the other skill needed here is to understand how to “know when to say win” and adjust their planning to maintain their lifestyle as opposed to falling into the trap of always wanting more.

Of course, a business plan can only be effective if it’s executed. Achieving growth that prioritizes your personal priorities takes continuous tracking. This is where we believe we can make the biggest difference in agents’ lives.

Some of the greatest agents I know are able to live incredible lives and keep things on track using a spreadsheet and regular meetings with a coach, broker, or colleagues. Witnessing their success is what inspired me to build this application.

The vast majority of agents I know aren’t reaching their potential in a balanced way, though. They either aren’t making sufficient income to support their personal priorities, or are realizing their monetary needs, but doing so at the expense of the very reason they got into real estate.

I am building Balanced Busy for these agents.

If you got into real estate to live a Balanced Busy life, but are falling short for one reason or another, I’d love to offer you free Beta Access to our web application when it is ready for release next month. Click here to join our waitlist and enjoy a minimum of three months worth of free access with no obligation to continue —> https://app.balancedbusy.com/waitlist.