Increase Your Bottom Line...(Part 2)

Here are some more steps to make more money in your real estate business.

4. Identify your best client

Are you spending your time on your best prospect? (Putting on my Realtor hat) I could drive a shopper around for months to see every house that happens to be in a particular town and have a certain number of bedrooms. Or, I could refer that shopper to some other agent who likes shopping and spend my valuable time locating my ideal client (who has 2 days to select their next home, is pre-approved with my favorite lender and has a pleasant personality).

Don't get me wrong. There are a lot of potential clients out there that are serious about making a decision to purchase a home. I'd just prefer to spend my time on the client that will be decisive and agreeable. (And, I know when I've found that type of person. And I do everything in my power to ensure that they will do business with me.)

So, transpose this idea to your business. Are you looking for a service provider, a property to purchase, a tenant or a buyer? In each area, identify your best client and serve ONLY those that fit similar criteria.

If you spend more time on client screening you'll find that you: Waste less time (on bad clients that probably won't perform anyway), Experience less stress and Make more money. And isn't that was business is really about?


5. Provide top quality service

Do you have a niche? Are you the "best" in your area? If you want to make more money (without necessarily working more) you need to give you clients amazing service. It's common knowledge that people will pay a premium for a high quality product or service. (And usually that means that service is provided to fewer clients.) So, if you're interested in serving fewer people and charging them at a higher rate, I suggest you provide an amazing service.


6. Satisfy your customer

Somewhat aligned with the last bullet point, customer satisfaction creates great referrals. Once you have taken the market by storm by the quality of your product, don't forget to ensure that your client loves it.

I have a great listing presentation. I pull out all the stops and typically walk away with a signed contract. (Unless I have determined that my prospect does not fit my "best client" criteria. In which case, I tell them "Thank you" and offer to refer them to another agent in my office...or a competing brokerage if they are really high maintenance. Ha!)

But Once I have the contract signed, if I don't satisfy my client with consistently amazing service, I've hurt my entire business.

Make sure that your client is aware of what you intend to provide and be sure that level of service satisfies their needs...at the very least. (And, if it doesn't, you probably did a poor job at at client screening and have wasted your time and theirs...so cut them loose. Oh! I'm so cold!)



...I'll have more tips to come. Please leave me a comment and let me know what you do to be the best in your market or how you have created a niche.