Minnesota Real Estate Investors Online and Offline Systems
When it comes to the Compound Effect it’s important to understand your time management, or time allocation, and priority on online and offline systems.
For example if you got 100 people to like your facebook page today and you consider that a lead, you could follow up, but what if you have 10 people who have told you this week that they want more information sent to them, or in the case of a real estate agent they want to go look at homes. In this case you have to prioritize your time much differently.
Often times managing 10 $100 bills near your reach is better than $100’s of $1 bills out of reach.
Always be closing, always be following up. Focus on your CRM (Customer Relationship Management). Depending on what you consider a lead, or a prospect, and how many you have of them, and how much time, resources and people you have working for you, on or off payroll and how much they get paid per hour, or if they get paid on commission, these are all moving variables, many moving parts in the system and all things to consider in the overall, holistic view of all that you do for your business systems.
Below I will discuss more in detail some of the different perspectives from offline systems and online systems.
Minnesota Real Estate Investors Offline Systems Compound Effect
So what I consider the offline system is typically after someone has text or called, so basically anything that makes it to your phone, incoming call, incoming text, or a call out to the person.
Now you may still do a lot of follow up by email which is online, but if you didn’t just leave a voicemail, and the prospects are taking action, paying money, or having real conversations with you, they dynamic is changing because they are investing their time, even if not yet their money.
Some systems I helped put in place in real estate is having a dependable very smart mortgage person with years of experience, credit repair experts that know laws and mortgages.
Also insurance agents, many assistants on each team, and conference calls with google docs and keeping everyone on the same page and making sure they are following up with clients, like a CRM.
The more time that’s invested into each prospect the more delicate that file is and more careful we have to be and possibly more frequent follow ups that we will take.
Once someone has got aligned intentions by phone with someone, the closing ratio to me, or at least the next step converts very high.
In real estate it may be something like a credit pull for a credit history and credit score.
To understand how this works, please wait until you are ready to invest and/or buy a home, and you can be part of the system by calling Garrett with Bridge Realty 763-634-1766 and he’ll walk you through the system.
When you have a higher lifetime value of a customer, such as someone that invests to make a lot of purchases in real estate, we are always handling bigger amounts of money.
I feel with most businesses the offline part of their business has so much room for improvement, especially with follow up.
Minnesota Real Estate Investors Online Systems Compound Effect
The online world has come so far in the recent years thanks to technology. Examples are social media, facebook, video, tracking our traffic, blogging and email marketing.
This allows us to teach what we do, train people and follow up with people to building relationships slowly. This helps weed out those that are not a great fit or in alignment.
We have made compounding and exponential progress in technology with cell phones, email, and facebook just for starters, but we all have access to these, so that alone doesn’t give us a competitive advantage, we must continue to get better with headlines, copywriting, systems, follow up and tracking just as a minimum.
The great news about online systems is there is so much tracking for most of what we do these days. When you can track things you can measure them, and when you can measure with stats you can improve things.
I find improving through shored feedback loops online very quick and easy, but even though the feedback is harder to get offline, I find that improvement % can be increased by a lot.
Not following up with 100’s of leads is a very big opportunity cost. Continue to look online and offline as a funnel, and continue to syndicate your blog content on facebook and track your traffic and time on site to see that it works. Continue to add videos on your facebook, youtube and your blog.
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