I had the honor of hosting the top producer panel at the 2018 WRA Annual Convention this fall. This panel was made up of true professionals who are outstanding in the industry. Although each panelist had different strategies for how to best run their business, there were many commonalities that link these top producers.
During our hour-long talk, we covered a number of topics; one of the first being how to attract new business. All three panelists had very different approaches to this question. One was hyperfocused on their local market and specifically marketing to that group opposed to wasting time and money on a larger group they had little interaction with. Another focused on their niche of pet lovers and how to appeal to those individuals who share common interests. Another spent ad buys to generate activity in their community and online. Although three different focuses, all agreed on a detailed plan and sticking with it to be the most effective.
Our next topic got into buying online leads and where success comes from. All three individuals were working with online leads; some with Zillow, some Realtor.com and some off their own site. No matter where the leads came from, all top producers said the importance of “speed to lead” response time was critical in converting these online leads. One person said, “if we’re not responding within 60 to 90 seconds, those lead opportunities are wasted.”
A question I always like asking top producers is: what is your secret sauce to your listing presentation? A common answer I always hear, and was shared with this group during this panel, is, “I don’t know that I do anything that different from other agents.” However, as we discussed further, it was clear all three top agents do their research when preparing their comparables, they all come into the meeting very prepared on the subject property, and they all ask a lot of questions to figure out the true needs of the consumer. In my mind, these panelists have drilled down their formula for success with the listing presentation.
I asked everyone about how they handle their work/life balance being top producers. All replied, in one form or another, that proper expectations with clients make it understood that the agents have a personal life too. Another answer included making sure to block time for yourself and make it a priority.
Our last question of the day got into the subject of teams and assistants. One panelist had a team, one had an assistant, and one worked with some support but as a sole agent. All agreed that taking on support is a scary thing as you grow your business, however, all three agreed that taking the leap to invest in your business can be the best move you make. All had similar responses that they try to do activities of their highest and best use, like listing presentations or writing offers. If they can get the proper support to do more of those activities and spend less time on areas like paperwork, the concept of a team or an assistant is extremely valuable to their professional growth.
As we wrapped up an extremely insightful hour, I had some major takeaways from this group:
- Always set proper expectations.
- Online response time needs to be close to instant, otherwise we’re wasting our money.
- The success of a listing presentation is based on the questions asked.
- Invest back into your business in some degree if you want to get to the next level.
I hope this top agent panel recap is helpful as we close out 2018 and plan for 2019. I want to personally thank all three panelists for their contribution to the WRA and its members by participating in this year’s convention.
Meet the panelists
- Anne Baranski, Bunbury & Associates, Sun Prairie
- Essam Elsafy, Shorewest REALTORS®, Whitefish Bay
- Stacey Hennessey, Century 21 Ace Realty, Oshkosh
How are you attracting new business?
Anne: While I do buy leads from Realtor.com, which stirs up a lot of business, I also find that I get a lot of new business from social media, friends and family, referrals from past clients, and from my volunteer work.
Social media is an interesting yet limiting animal. While I do have a business page, many clients want to be friends with me rather than my business page, so I have been forced to really scale back on the “social” part of social media. I censor everything I post, and have to really examine content through a microscope. For instance, I make sure that I never hazard an opinion about anything of substance. I will offer an opinion on pizza toppings, sports teams and cute dogs, but for the most part, I just keep my mouth shut, and my fingers off the keyboard. People look at social media a lot to get the measure of someone they are considering working with. If I share an opinion that appeals to the masses, there is still a minority I will alienate. Whether it is religion, politics, race or whatever else, I find it wise to keep my opinions to myself on social media. That really attracts people because they don’t feel judged before they even pick up the phone.
Family and friends are a boon for a lot of us. As long as those individuals see that we are good at what we do, treat people well, and provide the kind of service they want to associate with, friends and family are often happy to give our names out to others. But it is incumbent upon us to deserve that referral, and to honor the person who gave the referral, by providing an experience like no other. When someone refers us, they are putting their reputation on the line for us in many ways. We owe it to them to make them look good as well.
I sit on a couple of boards for charitable organizations and volunteer my time, talent and treasure. I volunteer because it feels good and because I strongly believe that I have an obligation to give back to my community. For me, being part of a juggernaut cause is fine, but I strongly prefer to work closer to home. That way, the money I help raise or the time I donate impacts people in my backyard, oftentimes with less overhead, so the dollars go further. The fact that volunteering puts my face out there, from a business standpoint, never occurred to me until people who I volunteered with started calling about real estate. A note: People can usually sense if someone volunteers simply as a way to garner business — at least I do — so making sure that a volunteer partnership is something important to me and something sustainable is significantly more important than using that partnership from a marketing standpoint.
I tend to get a lot of dog people when it comes to new business — maybe because I am involved in dog rescue, or maybe because people see on social media that I currently have six dogs of my own. Like calls to like, and I think dog people prefer to work with someone who understands that they might have certain needs to cater to their dogs. Elderly dogs don’t always do well with stairs and will need a quick and easy way to get outside for a potty break. People with multiple dogs might not be able to have them in city limits, so I will need to find them a home in an area where there are no pet quantity or breed restrictions. I have been there myself, so I understand that these dogs are treasured and beloved family members, and getting rid of them is no more an option than divorcing a spouse or leaving a child behind.
Essam: Our marketing is hyperfocused to not only a specific community but specific neighborhoods within it. We find that it’s the best way to maximize and leverage the power of our marketing efforts.
Stacey: I use social media, both Instagram and Facebook. It’s important to work toward writing engaging posts instead of just posting. Another successful way I’ve found new business is by hosting first-time homebuyer seminars. I partner with a local financial institution and hold the seminar at a brewery or restaurant to ensure that the seminar atmosphere is fun and relaxed.
I also find new clients by getting back to basics with farming neighborhoods or zip codes. My approaches in this area include sending mailings, providing household fall maintenance tips or other information, or offering education about local market conditions in the area.
What is your secret sauce to winning listing appointments?
Anne: I am not sure that I have a “secret sauce,” but if I do, it is my ability to read and react to people, and to “shape shift” into the person that the sellers need to be in front of them at that moment. Some sellers are looking for someone to be all numbers and business. Some sellers are scared and need someone to be calm and measured to alleviate their fears. Some sellers are uptight and need an injection of humor to help them relax. And some people need to have someone bend down and pet their old dog. I am able to sit down with someone, quickly assess what exactly they need, and then provide that for them.
Clients find it comforting when they feel like they are on the same wavelength as the person to whom they are entrusting the sale of their most likely largest asset. They like to feel like they are part of the process and that their voices are heard.
I had a seller who was panicking about everything that could possibly go wrong along the way. I literally told her, “I will tell you if and when there is a reason to panic. Until then, go out to lunch with your husband, have a glass of wine, and leave it to me. My job is to take the panic out of this process.”
I got the listing, I navigated every twist and turn, and when she asked, “Is it time to panic now?” I simply answered, “Nope, I got this.” We are currently sitting back, relaxing and waiting for the closing. Everything else is done, and everyone is happy and excited.
Essam: There is no secret sauce. Preparation, professionalism and knowing your market usually wins.
Stacey: First and foremost, after establishing rapport, get comfortable with asking sellers the price they feel a buyer would buy their home. With this question, you know the sellers’ expectations and can manage to that expectation. This approach is easier than the alternative approach of going through the appointment with the sellers, giving a value, and then not being clear as an agent about how they felt about the number.
Be prepared by showing the sellers you did some research ahead of time. I pull the tax bill, the data sheet if the house was previously listed, or the assessor card. I even refer to Zillow’s Zestimate just so I can explain that it is an automated value that doesn’t typically reflect accurate house pricing.
Do you have an assistant? If so, what is his or her role?
Anne: I don’t have an assistant; I have a Becky. A Becky is a lifeline that keeps me sane when I am becoming overwhelmed, picks up the slack, does the grunt work, goes the extra mile, and makes it all look easy. Her job is an ever-changing, dynamic thing with a life of its own. From the personal to the professional, she does it all.
She creates marketing pieces for listings, inputs information into the MLS, and takes an initial set of photos so that we have options beyond just what the professional photographer gives us.
She takes an accepted offer that is handed to her and completes all the tasks to get the deal to closing, from following up on dates and deadlines to ordering title to coordinating with other agents to running everything through accounting.
She will deliver a SUPRA; pick up party supplies; put together closing baskets and gifts; send birthday, anniversary and sympathy cards; put content on my business Facebook page; remind me of dates and deadlines; and respond to certain emails and calls. She has literally assembled office furniture.
When Becky sees something that needs to be done, she just does it. She takes my crazy, wild ideas and turns them into reality.
My assistant does the thousand little things that enhance client experience from turning stills of the home into videos for the client complete with music, to individual skeleton key-shaped USB drives with copies of every document pertinent to the transaction, which are presented to the client at the closing table.
She reminds me that my sister’s birthday is next week and makes sure I have a card and a gift, and reminds me to send them out. She manages my schedule, reminds me of where I am going and what I am doing, and tells me to put the top up on my convertible because the radar says rain is coming.
She has my back when I am sick or gone, has my back when I am on the road working, and has my back when I am sitting right next to her.
She is strong where I struggle, and she makes me look good along the way.
Essam: Many agents struggle because they know they need help. But they’re not exactly sure what the assistant should do. In general, the assistant should take everything off your plate that gets in the way of you connecting with your clients.
The role of an assistant needs to be well defined. Establish the specific steps needed for each phase of a new listing or accepted offer and delegate those tasks to the assistant. In general, the job roles should look like this:
- Agent job: maximize client touches.
- Assistant job: everything else.
Stacey: I am an individual producer, and I have two assistants. One of my assistants is full time, and she does my market research for my CMAs. She is also the first point of contact for lead generation. And yes, don’t buy leads unless you have the capabilities to reach out to the lead within seconds and convert to appointments.
My other assistant is part time, and she handles all of my social media and the back-end tasks after an offer is accepted. Some of those duties include collecting receipts, loan commitments or sending out a timeline. She likes to use www.amitree.com to organize those transaction details and materials. She also handles my overflow showings and sometimes attends home inspections on my behalf.
Dan Kruse is the president and owner of the Century 21 Affiliated System, overseeing operations for over 120 offices and more than 2,600 agents throughout Illinois, Indiana, Minnesota, Michigan and Wisconsin. Dan is actively involved in the WRA and his local board, the REALTORS® Association of South Central Wisconsin. Dan has previously served on several committees for the WRA and served as WRA Board Chairman in 2014-15.