If You Live By Referrals Only, Your Business Is Dying By Them Part 3

December 4, 2009

Most of the 80% think they should be real estate generalists and go after any real estate market in their region.  Their rationale for this is, “I’ll maximize the number of opportunities by serving all the markets I can.  Focusing on fewer markets will bring me fewer opportunities”.

In fact, the opposite is true: the fewer markets you focus on, the more successful you’ll be. You simply can’t be nearly as knowledgeable about 3-5 different neighborhoods near you as someone who focuses on and lives in a single neighborhood year after year.  By being a generalist you may be so determined that you get about the same number of listing appointments as the single market competitor, but the latter will close far more of them than you.  Their superior expertise and experience in their focus area and consequent greater ability to effectively market the home and get top dollar will be apparent to most home sellers.

Now that you understand the virtues of focusing over being a generalist rep, I guarantee you’re already way ahead of most of your competitors!

So the next question is, “What should I specialize in?”.  You’re the only one that can really answer that question, but here’s a specialty that will serve you VERY well: become an internet marketing specialist.  Focus all your efforts for on how to better use the internet to improve your business.  I guarantee you this: you’ll get results far beyond what you thought possible.

One of the reasons the 80% doesn’t understand the power of the internet is they truly underestimate or misunderstand it’s sheer power to improve their real estate business.

Here are common misconceptions of real estate professionals about the internet:

“I don’t need my own website.  My brokerage has one”.

When you only rely on your broker’s site, you’re just a face in the crowd of the other reps from your office.  Unless your broker’s site is praising you to the skies about what a star you are, there’s little or no compelling reason anyone would contact you over anyone else in the office.  You’re just another name in the office directory.  The problem is the 80% don’t understand why they should have a personally branded real estate website.  Some think they should have it so their clients and prospects will think they’re “with it” and “up with the times and technology”.  Others think you should have a website so people can read about you and your accomplishments in detail.  Some think the main purpose should be testimonials of past clients.  None of these are justifiable reasons on their own to have your own real estate website.

Filed under: Inspiration,Realtor Websites - Best Practices,SEO For Realtor Websites

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