Thursday, January 29, 2009

The Power of an Hour

Gone are the days when you can sit back and wait for the phone to ring. Depending on what the market was like when you got into the real estate business, you may know what it's like to get out and look for business. Some, my self included, got into selling houses when the market was good and everyone you knew wanted to buy or sell.

Now I wake up each morning to find myself looking for opportunities to find another buyer or seller lead. I have found, for the moment, that the most effective and fastest way to add to my database is what we call "Power Hour." Power hour is a time that we (agents within my office) gather for a short pep talk then split off and pick up those phones. Granted those phones weigh about 10,000 pounds at first, but it doesn't take long to get into a rhythm. During the hour you are a lean mean lead generating machine. You're calling expireds, FSBO's, withdrawns and of course people in your sphere to get leads and appointments.

When I first started participating in power hour, it wasn't pretty. It has taken me months to build my list of numbers to call, but I never gave up and am starting to see the results of my efforts as I am beginning to convert calls into appointments and appointments into listings. A lot of agents will make the first call. About half of those will follow up a second time. The numbers keep dwindling until the one left standing reaps the rewards. I have realized that lead generation is the difference between my business being a success or a bust.

Simply put, if you're not generating leads and converting them to appointments, you're going to struggle to survive in the current market conditions. On the other hand, if you are out there digging for your piece of the pie, you'll find that not only will you survive, but WHEN the market shifts back the other direction, you will dramatically increase your share.

Make it a habit. It doesn't matter if you do it well, just do it...and do it...and do it. Do it enough and you will begin to see results.

Happy Hunting!

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