Where To Invest Your $3000 In Your Real Estate Business
A Glimpse Into Coaching...?
Earlier this week I coached a single agent for the first time and here's what we talked about…
This agent has been in the business for about two years and is budgeting out expenses. She has about $3000 to invest in her business per month.
My first question, like always, is where did your business come from over the last 12 to 16 months? As we dove into this, the answers were past clients and sphere, which is the typical answer.
I brought up the stat from NAR that states 90% of buyers would use their agent again, and I reminded this person that less than 20% of buyers end up using the same agent. This person agreed with me that she needs to focus a lot more on creating more opportunities from her current database. So that's what we dug in with.
The $3000 will go a long way if spent around where you get the most business. Here’s the breakdown for this person I was coaching.?
1. Client Giant - Gifting for your top past clients and sphere that have sent you referrals. About $500 a month
2. Audience.co - $500 a month
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3. Agent Legend with Drips to your past clients and sphere: (Text, Video Text, VM Drop, Email, Video Email) - $200 a month
4. Small Monthly Dinners with Top 5-10 past clients and their spouses - $700 a month
5. The right CRM: Followupboss - $100 a month
6. Retargeting - $100 for 1000 people (Through LinkU) a month
7. Newsletter: Mailchimp or ConstantContact - Starts free
8. LCA Nurture - $60 a month
9. Part-Time VA - To reach out and pour love on your sphere and past clients. To help nurture and communicate with them when you aren’t able so there is consistently. - $800 a month
This is only a glimpse of what we went into, but I wanted to highlight the tech aspect of this which is often missed… If you have any questions feel free to reach out.