Have you ever taken the time to pause and analyse where your business is actually coming from? As a real estate agent, you could often be so caught up in the hustle and bustle of securing the next deal that you forget to look back at your successes and learn from them. Understanding the origins of your business can be the key to unlocking new opportunities, and ultimately winning more listings.

Reviewing Your Best Sources of Business

One of the most powerful exercises you can do is to review your best sources of business from the past 12 months. This involves asking yourself a crucial question: “Where did my business come from?”

Take a closer look at your client list, leads, and deals closed. You’ll likely uncover some surprising insights. Perhaps you didn’t realise a particular source, like referrals from past clients or a specific marketing campaign, contributed significantly to your success. This realisation is the first step in optimising your efforts.

Uncover Hidden Opportunities

When you analyse your business sources, you might find areas where you can increase your investment of time, energy, and resources. For example, if you discover that referrals from a specific network brought in a significant portion of your business, it might be time to focus more on nurturing those relationships.

As you go through this process, ask yourself these questions:

  • Which marketing channels generated the most leads?
  • Were there specific campaigns or events that led to more business?
  • How did my network of contacts contribute to my success?
  • What was the most effective way I reached new clients?

Understanding the answers to these questions can guide your strategy moving forward, ensuring you’re putting effort into the right areas.

Reworking the Tailings

Once you’ve reviewed your business sources, it’s time to dig into what I like to call “reworking the tailings.” Think of it as mining for gold in places you might have overlooked. This strategy is particularly useful when you’re feeling light on listings or opportunities.

A Real-World Example

I recall a conversation with a great agent from the North Shore. She was preparing for a leadership meeting and expressed concern about her lack of listings.

She asked, “Michael, what should I do?”

My response was simple: “Are you reworking the tailings?”

It turned out she hadn’t been doing this, and it was a game-changer for her. She delegated a team member to conduct follow-ups with potential buyers from the past six months. The results were astonishing. During our leadership meeting, her phone pinged three times with new appraisal requests from these follow-ups.

This example highlights the incredible value of reworking the tailings. It’s not just about finding new leads but also about reconnecting with those you’ve engaged with in the past.

Why Reworking the Tailings is So Valuable

Reworking the tailings involves revisiting past interactions, leads, and enquiries that may not have resulted in immediate business but still hold potential.

Here’s why this strategy is so valuable:

  • Unrealised Potential: Many potential clients may not have been ready to make a move when you first interacted with them. Revisiting these connections can uncover new opportunities.
  • Strengthened Relationships: Consistent follow-ups show clients that you value them and are committed to helping them achieve their goals, building trust and loyalty.
  • Increased Listings: As demonstrated in the example above, re-engaging with past leads can quickly lead to new appraisal opportunities and listings.

How to Rework the Tailings Effectively

1. Identify Past Leads: Go through your CRM or business base to identify potential clients who have shown interest in the past but haven’t yet committed.
2. Schedule Follow-Ups: Reach out to these leads through personalised emails, phone calls, or messages. Show genuine interest in their needs and any changes in their circumstances.
3. Offer Value: Provide valuable information, such as market updates or property recommendations, to demonstrate your expertise and willingness to assist.
4. Stay Consistent: Regularly follow up with these leads at reasonable intervals, ensuring you’re always on their radar when they’re ready to make a decision.

Putting It All Together

By reviewing your best sources of business and reworking the tailings, you’re setting yourself up for sustained success. These strategies allow you to optimise your efforts, focus on high-potential areas, and reconnect with leads that may have slipped through the cracks.

Remember, this approach is not just about looking back but also about paving the way for a more successful future. So take the time to review, rework, and refine your strategies. You’ll be amazed at the results.

Key Takeaways:

  • Analyse your business sources to uncover hidden opportunities.
  • Invest in nurturing relationships and channels that generate results.
  • Rework the tailings to rediscover potential leads and increase listings.
  • Stay consistent with follow-ups to strengthen relationships and build trust.

By implementing these strategies, you can enhance your listing success and achieve the results you’ve always aspired to. So, roll up your sleeves, dive into the data, and watch your real estate business thrive! 🏡📈✨