Are you on pace to reach your goals this year? Are you changing your 2023 business plan to account for the shifting market? If you haven't registered for the 2023 Business Planning Clinic, do it now. We have about 60 days left in 2022 and the deals we pend in November will likely close in December, meaning the deals we pend in December will likely close in 2023. So really, we have about 30 days or less squeeze in the deals we need in order to reach our 2022 goals. Here are 19 ways to pend 30 deals in 30 days - you don't have to do all of them; focus on doing a handful really well and make it happen.
1. Price reductions
All of your listings that have been active for more than 14 days should receive a 5% or more price reduction.
2. Share buyer success stories
Have you been able to secure a home for your client for under asking price? Were you able to negotiate seller concessions? The media hasn't caught up to the shifting market yet - potential buyers don't know that they have a good shot of getting into their dream home quickly and at a reasonable price. We're not seeing as many multiple bid situations as we were just a couple short months ago. Share your most recent buyer success stories everywhere you can with everyone you can! Ideas include:
3. Share economic indicators
Get potential sellers off the fence TODAY by sharing the economic indicators that the market is shifting! If they wait, they could lose out on equity. Here are the economic indicators you should know like the back of your hand in your market:
Days on market
Expireds per day
New pendings per day
The goal here is to create urgency, and these are the numbers that will help you do it!
4. Share interest rate predictions with buyers
This is another great way to create urgency with buyers who might want to "wait" for prices to go down. Make sure you mention that you don't have a crystal ball (we definitely can't predict the future!) but rates are rising at a much faster rate than prices are decreasing. Meaning, your mortgage payment could be higher and higher, the longer you wait, even if prices do come down a bit.
5. Host two open houses per weekend
Commit to this! If you don't work Sundays (and we never recommend working 7 days/week!) just host two open houses every Saturday for the next month. You could do 12:30-2:00 and 2:30-4:00 or 1:00-2:30 and 3:30-5:00.
6. Set aside one day per week for prospecting
Prospecting is by far and away the quickest way to "now" business. Add a day - 8:00am-4/5/6:00pm - of focused prospecting. If you pick Monday, for example, stop scheduling showings and closings on that day for the next 30 days. If you're already prospecting regularly, you can either add a day or prospect longer on one of your prospecting days.
7. Have two call nights per week
While we're on the subject of prospecting, let's add two call nights per week for the next 30 days. Like I mentioned, prospecting is the quickest way to take more listings and fill your pipeline. If your prospecting skills are lacking or you're just not confident on the phones, then you might benefit from something like our 16-week Prospecting Bootcamp.
8. Reach out to your most active leads
Go through your CRM and your Zillow account and reach out to your most active leads, no matter how old they are. These are YOUR leads, and they're active, so they are further down the funnel than most of your contacts.
9. Invite your database to a client event
Even if you can't actually host the event within the 30 day timeframe, get your invite out ASAP! The invite is the reminder to your contact that you are their realtor. It gets their wheels turning. When people receive an invite to a free event, even if they can't attend they feel an affinity toward you. It's like you're doing them a favor!
10. Go live on social media with market stats
Use your phone and an iPad or your phone and your computer, to go LIVE on Facebook and Instagram with a market stats update. Position yourself as the subject matter expert. You can then download the video and post it to your social media accounts so it doesn't disappear.
11. Call your database with market stats
The changing market is a perfect reason to reach out and call your database with a, "Hey, here's what's going on in the market" update just for them!
12. Call your database with the "I have a goal" script
Don't be cheesy, just be direct! Your sphere of influence wants to see you succeed, and they will generally jump at the chance to be part of your success!
13. Circle prospect
Circle prospect your last listing or buyer sale using market stats. This is the perfect way to promote your success in the immediate area and create some urgency with the neighbors.
14. Stick to a strong Saturday morning routine
Create and stick to a regimented Saturday morning routine, with time blocked off for lead generation, appointments, and lead follow-up. Speaking of morning routines, Jeff Glover will be going over the most effective weekday and weekend morning routines during our 2023 Business Planning Clinic this month. Register here.
15. Call your current clients with the "I have a goal" script
Get your current clients off the fence! They're on your side and they want to see you succeed.
16. Have a daily expired plan
Don't just call expireds. That's not enough. Call, text, email, and door knock - yes, pick 2-3 days to actually knock on doors. You have something to offer expired listings, and that is that you are the best agent in your area. Get out there and make it happen.
17. Employ the 5 week FSBO follow-up technique
Call the FSBOs in your area every Monday (or whatever day), 5 Mondays in a row. Remember the best day to call is just the day when you're in the right place at the right time for the client. Just keep at it.
18. Reach out to every lead 5 times before tossing
Reaching out includes calling, texting and emailing. Most appointments are set on the 4th or 5th reach out. Don't give up on leads before you've reached out at least five times.
19. Spend (or add) 45 minutes to your CRM follow-up plan
Appointments are set in follow ups - almost never in the initial reach out. Find 45 minutes per day for the next 30 days to follow up with your database.
Time is almost up!
We don't have time to waste if we want to smash our 2022 goals. Keep in mind, this is an aggressive plan for agents with aggressive goals. You don't have to do every item on this list! Just pick your top 3-5 sources of business (which are probably somewhere in this list) and double or triple down on those sources.
2023 Business Plan - New Market, New Plan
What's your new 2023 plan? If you don't have one (or if it's the same as your 2022 plan), it's time for a new one. Don't miss the virtual 2023 Business Planning Clinic on Monday, November 23. It's via Zoom and all agents are welcome to join.
During the 90 minute session, Jeff Glover will walk you through his exact 2023 business plan - the same plan that he and his team will use to close 1,250+ homes in 2023. Plus, you get a copy of the plan just for registering. Register here.