There are so many forces competing for the real estate agent’s commission, and the challenge is how to stay ahead. Why is your database the key to hedging yourself against the competition? How can we use technology to our advantage and develop a relationship with our sphere of influence? What metric has the highest probability to bring you real business? On this episode, Vyral Marketing co-founder and CEO, Frank Klesitz gives insights on outpacing the competition by building a database and attracting business instead of chasing it.
A database is a list of people you know-- but with technology, it’s a list of people who know you. -Frank Klesitz
Three Things We Learned From This Episode
As you level up, you need to have a communication strategy that is scalable
As you transition from chasing to attracting business, you have to make sure you’re using your time wisely. As you start moving from tier 1 in real estate (0-25 transactions) into tier 2 or higher, you’re not going to have much time for things like pop-bys. That’s why you need a strategy that allows you to communicate from one-to-one to one-to-many.
Minutes consumed = a higher chance for closings and commissions
If there was a key performance indicator or a certain metric that actually leads to people calling you, hiring you and giving you referrals, it’s not clicks, likes, open rates or views. The number 1 most important metric is minutes consumed and how long someone spends with you online.
Your content needs to educate and connect
You want to create content that educates people about real estate and connects the community. Help people make smart real estate decisions. You have to start thinking of yourself at a higher level as the journalist of the community.
A person who works on building a database over time is going to outpace a person chasing shiny objects because they don’t get distracted. If you want to beat out your competition in the long-term, the answer is a relationship with a list of homeowners that know you, like you and trust you. This is a relationship you can manufacture through content online. When you start publishing content, you can build an audience of a lot of people who know who you are, and maximize on the amount of time they spend with you online. This is what leads to a higher level of success in your business. If you want your business to stand the test of time and hedge yourself against the competitive pressures of being in real estate, a database is what’s going to do it.
Frank Klesitz is an entrepreneur and CEO of Vyral marketing who isn’t afraid to admit he learned “the hard way.” After years of struggle and marketing experiments he finally learned what it takes to build a successful service company. You can find out more about how he uses video marketing to help businesses grow at http://www.getvyral.com/