Our business coaching articles explore techniques that will allow you to dominate your market and take your business to the next level. Articles include time management strategies, synergy and focusing on areas of business most like to produce results. Whether it is effective conversion systems or making the most of lead generation, we’ll help you maximize your productivity and inspire your success.
Why Focusing on Synergy is the Fastest Path to Success
It’s Monday morning and you spent the weekend celebrating your Friday closing. You’ve worked to fill your buyer pipeline and have done all you can to solicit new listings from your farm area. Where can you focus your efforts today that will allow you to have something to celebrate this Friday?
I coach agents to understand synergy when approaching any prospecting activity. Broadly defined, synergy is the combination of action, or the advantageous conjunction of pooling resources and efforts toward a shared aim. To me, synergy means that a new sale or listing is more likely to happen in a neighborhood where a new sale of listing has just occurred. Why? Because when a home sells, it has been priced in a way that meets demand. A well-priced home will generally have more than one buyer interested in the neighborhood. When that home is no longer available, chances are, there are other buyers who have become familiar with the neighborhood and are ready to buy.
Whether you are looking for new buyers or a new listing, riding shotgun on this activity and calling on neighbors can lead to a new listing or a sale. These sellers have probably already received postcards about the sale from the listing or selling agent. They know their home’s value. If they’ve ever entertained ideas of selling, this is the time to do so.
However, your job is to get face to face with every seller in that neighborhood, even if the neighborhood isn’t your farm. What will set you apart from those agents sending postcards is that you will be canvassing the neighborhood to educate sellers on how synergy works. You have a great story to tell.
After you secure a new listing, it will bring buyers directly to you. Remember to spend 70% or your time working on getting new listings. Your listing inventory will do the work of generating buyers.
Visit our Coach’s Box in the Locker Room and click on Kick Off. In this section, you will find a list of new sales and new listings along with a script that will help you craft a conversation that gets results.