Adopting Agent Checklist Archives - Wade Webb Real Estate Coaching

3 Lists All Real Estate Agents Must Have In 2023

Wade Webb on February 8, 2023

What are the 3 lists all real estate agents must have in 2023?

How many times have you heard about the importance of referrals and taking care of your past/existing clients? More times than you care right? So are you doing “enough” about it? Check out these referral stats and tell me if you don’t all of a sudden feel motivated to step it up a notch.

4 Significant Stats on the Power of Referrals

It takes 4 to 10 times more money to get a new client than to keep them.
Doing business by word of mouth and referrals is proven much more profitable.
N.A.R. (National Association of Realtors) reports that 67% of business comes from Referrals.
Top 50 real estate agents in North America report 80-90% of their business comes from personal referrals.

Were you aware all top producing real estate agents maintain 3 separate databases or lists of clients? How many are you maintaining? Let’s have a look at the key lists that all agents need to maintain.

List 1 – Current and past clients. – This list is created from your email addresses, social media sites, cell phone contacts, listing files, sales files, prospect files, friends and family address book.

List 2 – Agent Co-Op – You will create this list from the Top 5 cities buyers come from and the Top 5 cities sellers move to. Locate and contact any cooperating agents situated in the cities that buyers and sellers regularly come from or go to. Create that agent-to-agent referral relationship.

List 3 – Demographic – For this one create a farm, niche, targeted client list by demographic, neighborhood, property type, income levels, or any other specific census data category. One of my mentors Bill Barrett said to contact each of these databases using the “12 – 2 – 1” system. It is as simple as……12 mailings a year …2 phone calls a year …1 face to face time a year. Bill also recommends the following information for each of these databases.

Form 1 – VIP Client Form – Name, email, phone number, cell number, address, work number, hobbies, birthday (month and day), Anniversary (wedding, home purchase), Children (name, age, birthday), Pets.

Form 2 – Could we quote you? Form – Asking for a testimonial of your experience doing business with you.

Form 3 – Would you help me form? – Of all the people you know, who would you think would be moving next? May I call them?

So what do you send to these databases?

Annual success letter – January… Paragraph one about the market activity. Paragraph two about your business and paragraph three just saying thank you for their continued support.
Annual home value reports – send them the listings, sales, expired inventory from the last year, without a suggested value in hopes to generate appointments with clients.
Post cards – Small, Medium, Large that are laminated or glossy, good quality with listings and sales. Full Color. Use multiple property photos, prices, testimonial, % of asking price, days on market as well.
Market reports.
Items of value such as tips, facts, and helpful information they might find interesting and valuable. Doesn’t even need to be about real estate.

How do you manage and systemize all these referral systems coach? By using a CRM or Client Retention Marketing system. Some of the top rated systems today…

Top Producer

Property Base

Referral Maker

IXact

Contactually

Follow Up Boss

Excel

Coach! What is the best CRM system I always say… is the one that you use my friend. Don’t over think and over analyze. Top producing real estate agents in North America are sending a minimum of 5 thank you notes a day…. 5,000 mailing pieces a month and make 100 calls a day. Love to hear what are you doing?

Strength and courage,
Wade

Simplify With The 6 by 6 Process In 2022.

Wade Webb on August 10, 2022

Are you the constant multi-tasking type of real estate agent that does too many things and just doesn’t do any of them well? Are you feeling like your real estate career is a treadmill you just can’t get off? Like myself constantly falling into the common trap of trying to be all things to all people.

We all have the tendency to do too many things and not do any of them well because of having little time or little focus. Why can’t we focus on a few high impact activities and do them with excellence? Why do we feel to be productive we have to do more than we can, even at the cost of poor execution?

Most of us not only do too many things and tend not to do them well but we also do them over long periods of time until we finally burn out and quit doing them all together. The real estate business does not have to be a marathon but can be a series of well executed sprints. I know in my own career after a six week period I often began to really not enjoy people.

Now in the real estate business (just so you know), this is not a good thing and could become very destructive and costly. Take the time to think what six… and only six activities you do in your real estate business that give you the most energy. What specific activities energize you and your business? Not just energize you and your business but have the biggest impact and return on investment. Once you have determined your top six activities you commit to them for the next 6 weeks.

Giving you a 6 by 6 plan. 6 energizing activities over a 6 week period and then walk away, rest and regroup for your next 6 by 6. How many of us could handle six high impact, energizing activities over a six week period. Instead of 52 or more activities over a 52 week period? What would that mean for your energy levels? Your production levels? Your overall effectiveness in your business and personal life?

My 6 By 6 Recommendations In 2022

1.) See the people – make appointments to visit past and current clients and give them the gift of your time over the next six weeks.

2.) Business Plan – take the time to see where you have come from and where you are going. You can’t improve something you don’t measure.

3.) Goal Setting – What’s your why? Set new sails for 2022.

4.) Give back – this is a great time of year to help others and to make a difference. It makes you feel good.

5.) Rebrand – time for a new photo, logo, slogan? a whole new look?

6.) Family and Fun – enjoy some time with people you care about the most. It can’t always be about work.

So their you have it. What’s your 6 by 6 going to be. Take the time to journal them and meditate on them and really try to nail things down with less being more in your work and in your life. I dare you!!

Strength and courage,
Wade

Real Estate Golden Opportunity – Creating A Succession Plan

Wade Webb on October 30, 2019

At some point, we all want to retire. One day we decide to move on to other passions or pursuits in life. There is a way to retire from real estate with relaxation and free time, to maintain an income stream and ensure our clients are well taken care of. This week we look at the method of adopting an agent and the retiring agent clients needs are attended to by the adopting agent. The most critical part of this whole plan is how you transfer and maintain client relationships and the trust the retiring agent has spent years to build. These relationships are the baton in the relay race that gets passed from the retiring agent to the adopting agent. If done well the retiring and adopting agents will win the race for them and their clients.

Let’s start by looking at the 3 steps to building your relay team. 1. Having a good plan 2. Execute the plan well 3. Everyone is replaceable, but you must choose wisely who will replace you. We have to assume the retiring agent has already compiled a solid database of relationships and detailed information about the clients so we then jump to choosing the adopting agent process which is the most critical choice you will make in the process.

Here is your adopting agent checklist:

1. Experience – First and foremost, experience should but what you look for. By experience, I mean not only experience in helping clients but also in running a business, marketing and sales skills.

2. Relationship Building – For every business, the process of working with clients will be different. A retiring agent may rely on mailings, phone calls and client parties. Make sure the adopting agent is open to continuing to communicate and build relationships in the same ways that have worked for the retiring agent.

3. Resources – Another critical component to look at is the possible successor has the resources. Do they have the resources to see the plan through to completion? Depending on the size of the business, the minimum requirement will be the financial ability to fund the marketing efforts to the database of clients.

4. Ethics – In a perfect world, it would not be important to include ethics into the equation but sadly some people are just in it for the quick buck and not the full relay race. Choose someone of high character and who will take care of your clients best interest every time.

5. Energy – Although it might seem like energy and resources are the same thing, there are not at all. Energy is the spark in the adopting agents eyes, their sense of humor or sometimes described as their “vibe”. When you are around them do they make you feel good?

6. Who Not To Hire – Considering adopting your office friend, assistant, the new agent or the agent who is desperate for business you should re consider. Friends take their friends for granted. Assistants know the back end of the business and not the front end of the business. The new agent has the spark but just not the experience and resources. As for the desperate agent they are thinking about the money and nothing else.

Tips For Adopting Agents

Do you have the systems and resources to add the retiring agents business?
Take the time to review the retiring agents business and how they market and care for their clients.
Prove how dedicated you are to handling the retiring agents business like sharing Testimonials, systems, processes, resources and your plan.

Tips For Retiring Agents

Make a short list of candidates to consider.
Ask your clients what they appreciate the most about you and want to see continue with the successor.
Interview more than one agent and get testimonials from their clients.

This is an exciting opportunity for both the retiring and adopting agents and trust that the content we shared will spark a fire in you and your business to find the adopting agent out there or adopting agents find those retiring agents that never consider the possibility of residual income into retirement.

Strength and courage,
Wade