In every real estate business, we often wear many hats. We are the agent, the marketer, the accountant, and sometimes the teacher of new agents. While being a well-rounded business owner is essential, it is impossible to excel at everything. If you want to see your real estate business grow, you need to focus and have the right business insights.
Working hard is not enough–you must focus on the right things. Focusing means being deliberate with your time and energy, and working on the things that will move the needle forward. This article will show you how razor-sharp focus can help you succeed in your real estate business and offer expert tips on getting started.
The Importance of Focus in Business
Many people believe that the key to success is working long hours. While it's true that you need to put in the time, it's more important to focus on the right things. You need to set boundaries and make time for keeping the ball rolling and self-improvement. Deliberate time and purposeful energy will move your business forward and help you stay connected with your team and clients.
Block Time for Creating Leads
To keep your business growing, you need to consistently generate new buyer or seller leads. So it is vital to block out time each day to create leads and ensure you're free from distractions. Turn off your email notifications, put your phone on Do Not Disturb, and close your office door. This way, you can focus all of your attention on bringing in new business. You can also use this time to review your pipeline with apps and technology like ClarityNOW.
Become the Expert in Your Niche
When you gain an edge over your competition by cornering a niche, you can close more deals and keep your clients returning. Whether you specialize in a particular type of property or market or become the go-to agent for first-time home buyers, make sure you are known for something. Then, build your business by marketing yourself as the expert.
Create a Team That Supports You
You may feel constantly pulled in different directions as a busy real estate professional. But when you have a team of people and technology you trust to take care of other areas of your business, it can help you create the right mindset to focus. The question is, how do you create this super team?
Focus on Talent and not Paycheck
Talent costs money. It is unrealistic if you are willing to pay a minimum wage but expect top talent. Instead of looking at how much you have to pay someone, focus on what they can do for your business. How will they help you grow? Are they self-starters that actively seek solutions instead of constantly asking for your assistance? When you find the right people, they will more than pay for themselves.
Allow Your Team to Join in the Hiring Process
One of the best ways to ensure that you're hiring the right people is to allow your current team members to be involved in the process. They know the culture of your business and what kind of person would be a good fit. In addition, they can help vet candidates and ensure they're qualified for the position.
Leverage the Right Tech
Apps like ClarityNOW can help improve the way you manage your business. Get all your business insights in one place. No more searching or guessing. Set your goals based on net profit and see all the deals in your pipeline to manage cash flow. You can think of this tool as a team member. Spreadsheets are messy and outdated; often, they cannot track the numbers you need the most. Invest in your team. Invest in a tool like ClarityNOW.
Why a Strong Business Coach Can Help You Focus
In business and life–it's easy to get caught up in the day-to-day grind and lose sight of your long-term goals. That's where a strong business coach comes in. A good business coach will help you stay focused on your priorities, challenge you to think outside the box and keep you accountable for your goals.
A Business Coach Challenges You the Right Way
It's not easy being the boss. As the owner or CEO of a real estate business, you're used to being in charge and calling the shots. But sometimes, having someone who will challenge you and push you to think differently can be helpful. A good business coach won't just tell you what you want to hear; they'll give it to you straight and challenge you to see things from a different perspective.
A Coach Can Spot Problems You Miss
It can be difficult to spot problems when you're too close to the situation. That's where a good business coach comes in. Because they're not involved in the day-to-day operations of your business, they can offer an outside perspective and help you see things you might have missed.
Create Systems Within Your Business to Speed Up Customer Service
Although it is vital to listen to your clients' needs and wants, that doesn't mean you cannot create shortcuts to speed up the customer service process for you and your clients.
Create Personality Profiles of Clients
The first step in creating a system that will speed up your customer service is to segment your clients into different personality types. It will allow you to create targeted marketing materials and service packages tailored to every kind of client. In general, there are three types of clients:
- Clients who want to get things done quickly and efficiently.
- Clients who like comparison options but do not want to spend a lot of time researching.
- Clients who wish to be involved in every step of the process.
Create Package Materials to Service Different Personality Profiles
Once you've segmented your clients into different personality types, you can begin creating package types that cater to each type. If you have a client who is always on the go, you can create a package that provides them with regular updates via email or text. On the other hand, if you have a client who likes to be involved in every step of the process, you can create a package that includes regular phone check-ins. By taking the time to understand your clients' needs, you'll be able to develop systems that work for them and make everyone's life a whole lot easier.
Growing a real estate business requires focus and dedication. By blocking time to prioritize your business goals, leveraging technology, and creating an excellent support system and shortcuts to save time, you can stay on track and continue working towards your long-term goals. If you are looking for other inspiration tips, check out our blogs and podcast series for more insights from today's top real estate coaches and rainmakers.