No matter how talented or how much natural ability an individual real estate agent possesses, his/her natural talents can and will only take him/her so far. No matter how gifted an individual may be, everyone will eventually hit a ceiling or, for most of us, a plateau of production. There is no “if” in this statement but rather “when” it will happen.
So the real issue is: how will you climb beyond the plateau or break through your ceiling of production? For the seasoned Realtor, the answer lies within the rigor of his/her ‘lead systems.’ For the successful team of Realtors, the answer lies within the volume of leads that the ‘lead systems’ generate. The single most critical element for consistent cash-flow in a real estate business is its pipeline of leads.
It is critical that the individual agent or the team leader designate specific blocks of time to work on his/her lead development systems. THIS TIME IS TIME SPENT “ON” YOUR BUSINESS. Lead Systems are the life-blood of your business. The lead systems produce sales; sales provide the revenue for prospecting/marketing; and prospecting/marketing generates new inventory and further future leads.
To completely understand the vital role lead systems play in a real estate business, it is important to utilize traditional and electronic marketing as ways of prospecting. Traditionally, there are many hands-on, time intensive, marketing/prospecting strategies, for example: handwritten notes or cards, warm calling and door knocking. With the arrival and development of electronic marketing and prospecting, however, agents have the ability to manage leads and, to a degree, predict the volume of leads in a less time intensive manner. Regardless of the strategy you employ, the result is the same: more marketing and prospecting means more inventory, and the result is a greater number of leads.
It is vital never to permit your lead system to stop or stall out. If your lead system falters, your entire business becomes vulnerable to changes in the larger market. Remember: your pipeline determines future sales—three, six and twelve months out.