A common question I get from real estate agents is, how can I get more commission checks?
My answer is usually in the form of a question: Do you have a Lifetime Customer System? Most respond with things like – well, I stay in touch with my clients. Uh, yeah… no. That’s not a Lifetime Customer System.
I’m so dadgum proud of our Lifetime Customer System. In fact, it’s one of the top 3 things I love to talk and brag about.
Before I jump into it, allow me to share with you the importance of having a back end, which in most cases, is also a front end. You have probably heard there are 3 ways to grow your business.
Increase the amount you make per transaction.
Increase the number of times people come back and buy from you.
Many real estate agents think or believe that as long as you are doing ONE of these, you are good. Unfortunately, 80% of real estate agents exit the business within 5 years, those that don’t fail, 95% earn less than $100K a year. If they were implementing what I’m getting ready to share with you, I’m confident there would be much less failure and a lot more success for them. In fact, the best businesses do all 3 mentioned above simultaneously – as we do in our system.
Back in 2007-2009, I had upwards of 19 builders sending me buyers that walked into their subdivisions wanting to buy a house from them.
The reason they sent me the buyers is because the buyers had a house to sell, and that was getting in the way of the buyer buying from that builder. The reason they sent the buyers to me over many other agents in the area was because of my Guaranteed Sale Program, whereby I would guarantee the sale of the buyers home, and if it didn’t sell, I would step in and buy it myself.
This gave the buyer a chance to do a deal with the builder without a conditional offer. Builders LOVE firm offers. So, they loved me for taking on that risk. I was happy to do it, of course, because it gave me a client and a great listing and a lifetime customer.
Every one of those builders went out of business during the recession. ALL OF THEM! I watched as they lost their specs and subdivisions to foreclosures. I, however, DID NOT go out of business. In fact, quite the opposite. Looking back on it, my success was in large part due to the fact that I had something the builders did not.
A lifetime customer system. The builders had NO such thing. All they did was ONE transaction with their customer.
After that, nothing. In reality, the builders were sending me a LIFETIME CUSTOMER FOR ME. I also refer to this as doing a deal to get a lifetime customer compared to most agents that just get a customer to do a deal.
4 things happened when the builders sent me their buyers who had a house to sell. I listed their home, guaranteed the sale of it – so of course, it sold.
That was the first deal with MY new client. Then the client gave me a testimonial, now called a 5-star review. Then they sent me referrals. Then they contacted me for additional help thanks to my Vendor Directory. Then.. they got a steady diet of real estate investment opportunities. I call this lifetime customer system (the same one agent’s at Your Home Sold Guaranteed Realty Copy and Implement as I type this) the 4 Rs.
Here are the 4 Rs.
- REFERRALS. Many are familiar with our fantastic referral marketing system – written about in Dan Kennedy’s book No BS Guide to Referrals. Essentially, we are outspoken about our Joint Ventures with amazing non-profits like Children’s Health Care of Atlanta, MUST Ministries, Eagle Ranch, RU4 People, and others. So outspoken that our clients get a steady diet of news and updates on our relationship with these amazing charities and we never miss on reminding everyone that their referrals not only benefit from our award-winning system but that a worthy cause benefits as well (since we donate a portion of income from home sales to the charity). We detail that in all of our SYSTEM materials weekly to clients… for life. Agents at Your Home Sold Guaranteed Realty who go all-in on implementing this system see an average of at least one referral a year from every client. Wow! What would at least one referral a year from every client for life do for your business?
- REVIEWS. We are talking 5-star reviews. Anything less… fail! I often say to agents what if… what if your commission checks could not be used to pay any of your bills. A commission check was equal to a trophy only. You could admire it, but you could NOT use it to eat, live indoors or buy things. You could ONLY pay your bills with 5 Star Reviews. If that were so, would your business look, be, do things differently? If you were to set your business up to get a 5 Star Review from every client as opposed to stopping short of that at the commission check, I can assure you – you would get MORE commission checks. Our SYSTEM allows for a different kind of second-mile service baked into the whole deal from the moment we meet face to face with a client. Remember, we are doing a deal to get a lifetime customer. EVERYTHING is built to do that. It’s all part of the SYSTEM.
- REPEAT. Most agents think repeat business is their ‘past client’ coming back around to buy or sell their primary home. That is NOT our system, but virtually every client does come back around to buy or sell their primary home. Why?
Because the moment they become a client, we launch a system to help them create more wealth. All of our clients get the opportunity, day one, to opt into our VIP Client Program. The program is part of our SYSTEM, which delivers access to opportunities and education on how to increase wealth investing in real estate. Clients love it and when they get ready to buy or sell their primary home… they see us as MORE than just a real estate agent. We are wealth builders. Who better to call or refer to real estate than someone who knows how to get rich with it?
- RESOURCE. We have a unique system we call 99 Affiliates. It lists out 99 business categories and how to approach a business owner in the category to do a joint venture. We then promote the business to our client database. When our Clients need help with pretty much anything, they contact us for a referral. We match them up with the appropriate business to help them… a business that we vetted and now promote… our client gets help and gets happy! In return, we get another 5 Star Review for being a valuable resource.
There you have it. The 4 R’s of our very amazing very exclusive Lifetime Customer System. If you look around the world today at the BEST businesses – you will find a built-in Lifetime Customer System. Real Estate Agents are not taught this, nor does it exist as part of a traditional real estate brokerage (that I have seen), forcing agents to go outside their brokerage to discover how something like this works. That is why I am super proud of our Lifetime Customer System agents at Your Home Sold Guaranteed Realty Copy and Implement.
I hope this helps you see how you, too, can increase your commission checks!
Commissions are disappearing! The National U.S. Average Commission in 1992 was 6.04% in 2018 under 5.0%. A Class Action Law Suit Filed by Some Home Owners Alleges that NAR, and the Big Box Brands, Realogy, Home Services of America, RE/MAX and Keller Williams, Violate the Sherman Antitrust Act by Requiring “Buyer Broker Compensation” – Meaning they are Making the Seller Fund the Buyers Agent/ Opposing Council.
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