Having an Inside Sales Associate isn’t an expense…it’s an investment
If you’ve been a real estate agent for even a week, you know that there’s no shortage of places where you can invest your hard-earned money to generate listings for your business.
Many of them suck…plain and simple.
Unfortunately, for many agents, they don’t find this out until it’s too late and they’re either out of money – or worse – out of business.
The key when deciding where to put your money is to look at whether or not you’ll actually make money BEFORE you plunk down your cash.
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When you do, you’ll find that a little research goes a long way.
Of the myriad places you can make an investment in your real estate business, there’s a short list of options where you’ll actually get a huge return on that investment.
Hiring an Inside Sales Associate (ISA) sits at the top of that list.
Yes, it can be a larger investment, but the return on it is one of the best you’ll experience.
Three Ways an ISA Can Make You More Money
Here are three key ways and ISA can make your business more profitable (and likely in less time than you’d imagine):
Make more contacts
It’s trite, but true, sales is a contact sport. The more people you speak with, the more opportunities you get.
The challenge here is that as an agent, the busier you get with meeting prospects to help them list and sell their home, the less time you have to make contacts.
And in the spirit of complete transparency, prospecting is usually the first thing that gets dropped once you get busy.
By putting an ISA in place to make calls for you, you have a trained salesperson who can call as many days of the week and as many hours of the day you would like them to.
Consequently, they’ll talk to more people and uncover more opportunities which, statistically, means you’ll get more appointments and sales.
And, even if you love being on the phones and are committed to calling a couple of hours a day, having an ISA call can still help you find more than enough deals to justify the investment.
Fewer missed opportunities
Fact: you’re not going to get every sales opportunity that comes into your mousetrap.
And it’s okay because there’s enough business for everyone.
That being said, it’s crucial that you put a strategy in place to not miss too many of them.
On average, only 3 percent of your market is actively buying. At the same time, 56 percent of these people are not ready, while 40 percent are poised to begin.
Your challenge is to be there at the right time so you can strike while the iron is hot, so to speak.
The best way to do this so you can capture more business is to have an ISA in place whose nurturing these leads and building a solid relationship with them.
Couple that with the fact that most agents stop calling after the first attempt or two and you’ve got a recipe to snatch up a lot of business on which you’d otherwise miss out.
Increase your average sales price
If you’re like most agents, you probably worked with more buyers than sellers when you got into the business.
It makes sense because buyers are available in a large quantity and they’re easier to work with on the whole.
Certainly, buyer business is great, but it can be tough long term.
Not only does buyer business require a lot more of our time and energy, but also it keeps us from increasing our average sales price because we don’t control the price of the house a person is buying.
When you have an ISA calling regularly for you, you can pinpoint areas where the average sales price is higher and have them call to nurture relationships and find listing opportunities.
The best part is that as you get higher priced listings in new areas, you can also get great referral business in that same area.
The ripple effect of putting this strategy in place is incredible positive and powerful.
In your mind, hiring an ISA shouldn’t be an “if”, it should be a “when”. With a solid ISA in place and a targeted calling plan, you can add a significant amount of income to your bottom line in 2018 and beyond.
The investment is a lot less than you would think and the return is well worth it.
The important thing is to make sure you have the right ISA and the proper processes in place.