It's all about lead generation in the real estate industry. "Getting someone to agree to a coffee meeting is only the first step in obtaining leads." writes John Heckers in a great article for Colorado Biz Magazine.

Cultivating networking partners is an important aspect of business growth.  A networking partner is an acquaintance in the business world through which you can generate leads that you might not otherwise get. This partnership is a two-way street, so make sure you get to know the person before doing business with them.  A coffee meeting is a great way to build trust and begin a long-term networking relationship.

Heckers offers "Nine ways to make the most of your coffee meeting, otherwise all you get is Starbucks and a lighter wallet."

1.)    It's not all about you.  Ask what you can do to help them in their goals.  This is a quicker way to get the information (and potential leads) you want.

2.)    "Don't go for the jugular" counsels Heckers.  You have to establish trust and a relationship before someone opens their rolodex to you.

3.)    Give your 30-second elevator speech, not "War and Peace". Make it conversational, hit only the details you need and keep it under two minutes.

4.)    Ask "Who do you know to whom I should be speaking?"  DON'T ask if they know someone because unless they live in a cave, of course they know people.

5.)    Counteract a negative response of "Gee, I don't know anyone" with suggestions of types of acquaintances they might know including neighbors, coworkers, people they've met while networking, vendors, etc.

6.)    Closing:  At the end, thank them for their time and exchange cards.  "Ask your networking partner to keep you informed of their progress, and ask if they'd like to be kept informed of yours.  If the networking partner has been helpful, suggest that you two meet again in a couple of weeks." suggests Heckers.

7.)    Leave Communication Open:  At the close, tell them you'd be happy to give them a call if you come up with more information and then ask them to do the same.  And then make sure you follow through!

8.)    "Don't be too nice though," says Heckers. If you refer contacts to the networking partner, follow up on those people you sent to see how things were handled.

9.)    Don't Waste Valuable Time:  "If it has been two meetings and you still are not getting any reciprocity from a new networking partner, broom 'em. Don't waste your time continuing to meet with someone who is stingy or unhelpful. It may sound harsh, but your time is valuable." writes Heckers.

Your coffee meeting can be a valuable tool or a complete waste of time, says Heckers.  It's important to know the difference and make your time count.

Read more at ColoBiz.com

photo credit: Jonathan Rubio

Posted in Real Estate Industry Trends, Lead Generation

All the signs are there, says National Association of REALTORS® Chief Economist Lawrence Yun. "More jobs, rising rents, a rising stock market, and continuing high affordability conditions are combining to get more people into the market."

In the Residential Market, the bargains might not be as good this year, but conditions remain favorable for buyers.  NAR predicts a 5 percent increase in home sales this year.

REALTOR® Magazine asked its readers to predict where the best source of business will be in 2012.

These three areas may be good places to focus on in the coming year:

1.       International Investors may be a new source of income.  With the debt crises in Greece, Spain, Italy and other countries, foreign buyers continue to stream steadily into the U.S.   

"NAR's 2011 Profile of International Home Buying Activity shows foreign households bought $82 billion worth of residential real estate last year, up from $66 billion in 2010." states the article.

2.       Distressed Inventory:  "Affordable housing in inner-ring suburbs or center city areas may be real estate's sweet spot in 2012," says Brian Block, broker-associate with ­RE/MAX Allegiance in Virginia, "because buyers today aren't looking just for bargains, they're looking for convenience and lifestyle amenities."

3.       Rental Property:  With homeownership still a distant dream for many Americans, more people are renting, vacancies are down and rents are on the rise in most areas.  "That's why many real estate companies have shifted their business model to include rental and property management." says the article.

Real estate agent Bill Bloomberg is now focusing on high-end rentals, working with both owners and tenants.  He feels this has helped him retain clients.

"If a listing isn't selling, it's usually because of price. However, most owners are going to try to switch to another agent first to see if that will make a difference," Bloomberg says. "Presenting an option such as renting can prevent that from happening."

This also attracts renters to a nicer neighborhood that might currently be beyond their reach but might be something they might be able to afford later when the economy improves.

"Today's renters could well become buyers of the future." states the article, "The majority of renters (63 percent) say they are at least somewhat likely to purchase a home in the future. Among them, young adults (age 18 to 24) have the strongest aspirations for home ownership, according to an NAR survey of 3,793 adults conducted by Harris Interactive and released in January 2011."

Read the full article at REALTOR® Magazine.

photo credit: tompagenet

Posted in Real Estate Industry Trends, Lead Generation

Clients slipping through the cracks?  Client Tickler is a calendar software program that helps you keep up with the tasks and deadlines you need to do to keep up with the demands of real estate.

One of the great things it does is help you keep track of past clients who need a little TLC, just to let them know you are still out there, doing great things and would love to help them in the future.

"Have you ever had a past client purchase their second home from another agent because they haven't heard from you since they bought their home?" asks Blake McCall from ClientTickler, Inc. 

Each time you close out a task with Client Tickler, it requires you to set a new one for every client. "You can always make a client inactive if they never want to hear from you again, but hopefully that's not the case." says McCall. This ensures past clients never fall through the cracks.

Other great features of the program include:

• Task tracking software that allows you to easily juggle all your properties, clients and the entire escrow sales process.
• A postcard feature that allows you to customize your emails with a different template for thank you's, birthdays and every occasion.
• A snapshot view that shows previous tasks for each client.

You can test Client Tickler for free for 30 days to see if it works for your business, if you like it, it's $150. The company is working on an app for the iPhone, iPad and Android. 

Learn more about Client Tickler.

photo credit: Sharon Drummond

Posted in Lead Generation, Gen X-Y, Technology And YOU

It's the New Year and it's time to get back to work.  What is your game plan for 2012?  Goal setting is an important aspect of business but it's hard work. 

Gerry Michaels, a REALTOR® in Gettysburg, Pennsylvania, has some great tips for setting your business goals in 2012.

1.  Buy into the concept of goal setting:  You have to believe in it to make it work.

2.  What do you want to Accomplish?  "Simple yet very important," says Michaels.  Really think about what goals are important to you and your business.  Be specific about what it is you are trying to accomplish.

3.  Set realistic goals:  Setting yourself up for failure will only have a negative impact on everything you do.  "For example, if you are a Realtor in your second year and this past year you completed 10 sales, don't set next year's goal for 100 completed sales." says Michaels. " In reality that goal is not going to be met. Try something like, I will increase my sales by 20%, and I will do that by learning how to blog, adopting a video sales presentation etc."

4.  Challenge Yourself:  Don't set your goals too high, but be sure to challenge yourself as well.  Set the bar high, but attainable.

5.  Work as a team:  Team up with someone in your office who has similar goals.  "Sometimes just having someone to be accountable to, inspires the motivation needed when things get dicey and the temptation to give up arises." suggest Michaels.

6.  Write it down!  And place them in a visible spot where you see them daily for motivation.  "Writing down goals in a notebook and stashing them away in a desk drawer is not going to produce results." says Michaels. "Place them on the fridge, next to your bathroom mirror, or  try putting them in a nice frame and placing them right there on your desk for you and your co-workers to see."

Setting the goals may be the easiest part, but sticking to them takes hard work.  "Encourage others to embark on a goal setting program;" says Michaels, "inspiring others is also self-inspiring."

Read the full blog post on Active Rain.

photo credit: wbaiv

Posted in Real Estate Industry Trends, Lead Generation

Dreaming big is great but where most people miss their mark, is when they fail to take the small action steps each day to make their dreams a reality says Bernice Ross, Real Estate Coach and author.

Keeping up with everything is the biggest challenge real estate agents face.  You are the business and you have to wear many hats. 

"One of the many challenges agents face is being pulled in so many directions that they don't know what to do first." says Ross.  "Should I cancel my lead generation time to take out a buyer? Will investing in this technology really produce any difference in my bottom line? Do I really need to have a presence on the social media?"

Ross offers six proven steps to help you resolve the confusion and make your big dreams a reality:

1. Monitor and Evaluate your successes and failures in 2011 and ongoing in 2012.

2. Narrow your Focus:  Make a list of everything you could be doing for your business, then identify the top 3 things you think will help you reach your goals.  Focus on only these 3 things for the next 30 days.  Then go back to Step 1 and decide at the end of the month if this helped you achieve more.  If not, make adjustments.

3. Daily Top Goals:  Ross suggests asking yourself each day, "What are the three things I must absolutely accomplish today to hit my goals?"  Complete these first before anything else.

4. Stay positive. Focus on what you did accomplish, not what you didn't get done.

5. Change is good.  Be willing to change course when necessary to achieve your goals says Ross.  If short sales have been your strong suit in the down market and your market is starting to improve... it may be time to start refocusing on more tradition real estate listings.  Always re-evaluate whether your focus will help you move forward or will it hold you back?

6. Innovate.  Keep up with new technologies that can help you do your job more efficiently.  Don't jump when adding new technology, however, keep a list of ideas of how to improve your day to day operations and then place them in order of need and then evaluate which will be most cost-effective.

"Keep moving forward, keep your eyes on the goal and always be mindful that every small step takes you that much closer to achieving your dream." counsels Ross.

Read more great tips from Bernice Ross.

Posted in Headlines, Lead Generation