Volume real estate transactions often baffle the average agent. In fact, the average agent is lucky to close 20 transactions in a year, which equals only 1.5 transactions per month. And yet, it would be highly unlikely that there is a need to spend 160 hours on any transaction. This stems from a lack of processes, no boundaries when it comes to time with a client and a lack of common sense about what it takes to work with too many clients at one time.
It is a fact that in the traditional world of real estate, many agents believe that you should make client calls until you can not reach the person that you are calling. That could be midnight and sometimes later if you are negotiating a deal. Why?
This misunderstanding of the profession leaves the agent using their time inefficiently, with no boundaries and often you hear that the agent is burned out. They need a vacation. But oh no, the agent can not take a vacation, they have a client that needs them. And this is the agent that is lucky to do 20 transactions per year. Yes, it yielded them into the Million-Dollar Club, but it has not yielded them an income that is sustainable or a life that is balanced.
What is Volume Real Estate?In a nutshell, volume real estate is working with so many clients that if one flakes out on you and does not sell or buy a house; it does not effect your performance or income. Simply they are not needed. Volume real estate is a conscious decision to accept as many clients as you can and that you will figure out if you need help with them later, while you are in the game, not just thinking about the game.
Volume real estate recognizes that you must be marketing all the time, not just when you decide that you need more clients because you have just closed your pipeline or it has dried up. A volume real estate person overbooks himself or herself knowing that they have team members that can help out if needed. Volume real estate is where you make money that you didn’t even know was possible because you have a process that is smooth and has very little or no flaws.
Volume real estate has boundaries that say when you close for business, when you re-open for business and ultimately this will allow you to go on vacation. Volume real estate is the wave of the future if the wave is not already on us. The question is, will you go under with the wave or will you ride the wave?
How Do You Do Volume Real Estate
1. Learn from someone who has perfected volume real estate. Someone who carries hundreds of listings at a time, not tens of listings or less.
2. Stay away from naysayers and others who don’t want anyone to succeed, including themselves.
3. Understand that you can never service someone in real estate, you can only support them to make a decision that is best for them. You have no power.
4. Stop feeling worried for people who have gotten themselves into financial messes.
5. Stop feeling guilty for charging people too much money and charge less – the real fee that it costs you to do business. In other words, instead of clubbing 20 people to death for your annual revenue, just pinprick 2,000. You’ll make more money and your clients will save more individually, allowing them to accept more offers, quicker.
6. Make yourself referable so that your clients can actually refer you to others.
7. Build processes that keep everyone on the same page including the clients.
8. Stop over servicing people to feel good about yourself.
9. Stop underestimating that people can’t do things for themselves like fill their own flyer box.
10. Stop overcharging clients because you don’t have enough clients – get more.
11. Stop over-promising clients and delivering less results than promised.
12. Stop over-promising clients and resent your over-promise.
13. Set boundaries for your personal life that you are willing to enforce and let those spread into your business life.
Recognize that real estate needs for sellers and buyers have changed and get on the band wagon of people who are making millions while you are making less than you imagined or feel you deserve. Don’t just make enough to pay your bills, make real money.