Sphere of influence, work ethic, salesmanship, and hustle are important if you want to succeed, but the most important quality agents need to have to increase their listings is attitude. In a low inventory marketplace, you have to fall in love with finding people to serve. In a high turnover, low inventory marketplace, you don’t need to spend more time servicing the accounts, you need to shift your schedule and activities to spend more time meeting customers and acquiring new listings.
2. Increase Your Direct Income Producing Activities (DIPA)
There’s a direct correlation between the Direct Income Producing Activities and the Production Supporting Activities (PSA) you do every day. So, if you have a limited number of listings or even no listings, the problem could be in the mix between your DIPA and your PSA. In other words, if you’re only spending around two hours a day in direct income producing activities and six to seven hours in production supporting activities, you should try changing your schedule to spend more time going after the listings and opportunities you want. That means up to 80-90 percent of your time should be spent working with clients and potential clients: meeting people face-to-face, writing and negotiating contracts, and showing properties to qualified buyers.
Many ways you can find niches and opportunities to increase your DIPA, including door knocking, direct mail, or even Facebook marketing into [high turnover] areas, you can work expireds, you can work notice of defaults, obviously you can work referrals, you can work past clients, you can work your lender business, and sphere of influence. Also stresses the importance of paying attention to what you’re doing at the sign level. According to NAR, 67 percent of potential property owners who see a property they like online get in their car and drive by the property, so what you do at the sign level is more important than ever.
Whatever skills got you to the success level you are at now will not be enough to keep you there. The market and technology are constantly changing, so if you want to keep up you must do more and practice more. That’s how you learn and acquire the skills you need to adapt with the market and take your career to the next level.