The term “System” is thrown around in the Real Estate industry all the time but what does it actually mean? The term can be perceived in an manner that often times can be overwhelming and for those of you that are just getting started, you may feel that Systems simply do not apply to you. Today I share some light and lend my own perspective.
In the simplest form, Systems are defined as the following:
- Two things working together as a whole to create increased efficiency.
- A set of principles or procedures done well while working together for the greater good.
So how do “Systems” apply to your own Real Estate Career? How can they benefit you and what can you do to apply them in your own business?
More often than not we hear systems associated with larger Real Estate Teams based on massive “lead generation” campaigns and leveraging others to create more passive income. Inside of my own Real Estate Career I have applied various systems since my first year in the business and I share that they can apply to any facet of your career. They will not only assist you in increasing your production but they will also increase your quality of life inside of the business. At the height of my sales career we were running a 200 plus transaction per year business. By applying systems, we were able to play over 70 rounds of golf, take 6 weeks of holidays and ensure we did not miss a single family function. Perhaps you’re not an avid golfer or traveler however systems will assist you in serving your purpose and spending time with the people that you want to, doing the things that you want to do.
In applying systems, I believe the most significant principle to understand is the concept of “Leverage”. What will leveraging technology, staff, marketing techniques and other professionals do for you?
They will ensure you keep the 3 Vital Signs of Real Estate alive and well:
- Setting Appointments
- Conducting Appointments
- Negotiating Contracts
If you’re just getting started or are looking to take your business to the next level, I recommend you consider the following 3 Systems as you continue to investigate your own growth and productivity.
Social Media Systems
Consider the possibility of combining Free Organic Facebook strategies such as “Facebook A to Z” which I’ve shared in previous articles or the principles of content creation with the massive power behind “Facebook Ads”. In combining these proven and powerful tools you will become more powerful in the social spaces, reaching a wider audience and going to greater depths with them.
Lead Generation Systems
Whether you’re looking at online or offline lead generation systems, consistently tracking, measuring and understanding cost per leads and conversion rates is crucial. The consumer can get most Real Estate information for Free as it is readily available to them at the click of a button. I encourage “follow up” programs to assign leads of any kind, ensuring the initial contact and follow up programs are active and efficient.
For many of my coaching clients, it’s not always about the next big lead campaign or strategy to ensure growth. Often times you will already have an existing platform of business, such as a strong listing inventory which will allow you to leverage the assistance of others to increase production and develop passive income. There are some wonderful Realtors out there that will be happy to service some of your clients and pay you a referral even if you do not want to start a large team. By investigating your hiring systems and creating a pipeline of leads, your earnings potential can grow drastically. The key in this system is to focus on leverage and determine what makes you productive and also consider what prevents you from productivity as well.
The three suggestions above are but a tip of the iceberg when it comes to applying systems to your Real Estate Business. I believe that the earlier you investigate some of these principles in your own career, the sooner you will move towards higher production and an increased quality of life inside of Real Estate.