Be a $1 Billion Producer
In your first year as a real estate agent, the idea of hitting $1 million in sales is a big accomplishment, especially in markets where the median home price is below the national average. But you may want to set your sights higher - much higher.
What would you think if we told you it’s possible to do $1 billion in sales per year. That’s right. Billion with a B.
You’d probably think it could only happen for agents in New York City, Los Angeles, San Francisco, and other high-end markets, but Ben Caballero proves that isn’t the case. Dubbed America's number one Realtor®, Ben is a Dallas-based agent who became the first billion-dollar producer in 2015.
And that wasn’t an anomaly. He broke his sales record in 2016. Actually, he smashed it going from $1,022,000,000 in 2015 to an estimated $1,375,000,000 the following year. It worked out to be about 3,400 home sales in a single year.
How did Ben do it? Below are a few things top producers do on the daily to reach unthinkable annual sales numbers.
Lead Gen, Lead Gen, Lead Gen
You can’t sell homes unless you have leads to convert into clients. Top agents are masters at lead generation. They make it their primary focus and spend a little time each day working leads.
The first thing all agents should do is tap their current network. Your friends, family, acquaintances, and past clients are your strongest advocates. In other words, they are the most likely to refer you to home buyers and sellers. Referrals are what you want because the leads come to you, and they’re usually a serious lead that’s looking to buy or sell in the near future. To put it in perspective, the #1 way people find their listing agent is through a personal referral.
You’ll also need to create a local presence online. Let’s face it. If you aren’t visible online you’re going to miss a lot of potential leads. Many buyers turn to online resources first when they start thinking of buying a home. Websites with home listings are a big draw, but today’s buyers are also using apps, social media, and looking for information about the home buying process online.
In addition to having a website, social media accounts and profiles on other real estate resources, make sure to target your online marketing for your local area to increase your odds of getting seen. And if you’re in a large metro area you may want to go even more granular by targeting specific neighborhoods.
Another thing you’ll want to do, as Ben has done, is concentrate on listings. When you list a home you have a very good opportunity to land a number of buyer leads. Not everyone who calls to inquire about your listing will want to put in an offer, but they are often a hot lead that’s looking to buy a home. Just how many good leads you get depends on how well the home is priced and how much exposure you give the listing.
Make Professional Connections With Homebuilders
Ben Caballero couldn’t have hit $1 billion in sales without homebuilders. In 2015 he had over 40 homebuilder clients. In 2016 the vast majority of his sales were new homes that came from 56 homebuilders across Texas. (More on how he accomplished that below.)
It’s a very sound strategy in Texas where there’s a massive amount of new home construction. Homebuilders can be a great source of leads if you build a good rapport and prove that you have the skills to sell. Some homebuilders have their own listing agents on staff, but it’s still a good idea to visit new developments and start building relationships. Put together a solid pitch of how you can help the builder sell more homes in less time and you may score yourself a steady source of listings.
Leverage People and Tools
No matter who you are, you only have 24 hours in the day. But super-producing agents know how to make the most of their time by leveraging people and tools.
Ben was able to amass a huge number of sales by creating an online home listing and marketing platform on his website HomesUSA.com. The PropTech tool streamlines listing processes with automation, allows homebuilders to provide better data and significantly increases exposure for new home listings. Leveraging this tool allowed Ben to make connections with builders and close on a ton of homes.
No matter how advanced technology gets, there are some things that need a human touch. Do you really think Ben sold 3,400 homes in a year all by himself? There aren’t enough hours in the day for him to make it to all the closings without even factoring in all the other Realtor duties. When you reach a certain level of production, leveraging people power is a must.
You can start by leveraging the people and tools at your brokerage. Look into the programs and equipment your broker offers that can save time and/or make tasks easier. Ask if the admin staff can answer calls and take messages for you when you’re unavailable. (These days leads expect to get a response of some sort as soon as they make contact.) Once you reach a certain production level you’ll want to start thinking about hiring an assistant to help take some of the lower level tasks off your plate so you can concentrate on lead generation, listings and showing homes.
Follow these three top producer strategies and you’ll be selling more homes in no time!