Being Social...For Real

In a previous post, we covered being social in the digital realm. In this post, we talk about what I call the "plateau effect" that many Realtors encounter.

Put simply, the "plateau effect" is when we see an agent reach a number of transaction sides or dollars earned and then stop. It's like they hit a wall. For example, let's look at Agent X. Agent X starts in the business and makes $40,000 their first year. Then they make $65,000, then $90,000, then $125,000 in subsequent years. Then in year five they make $125,000 again. Same for year six. They've hit the wall. They've plateaued.

So, how does that happen and how do you break through the wall? That's the big question. Let's start by looking at how Agent X got from $40,000 to $125,000. Chances are they worked the heck out of their spheres of influence, hit up their past clients as they got them, and maybe got some clients through some simple marketing efforts. So where's the breakdown. By year five, they have likely exhausted what they have. The only expansion of their sphere is from past clients.

The key to not plateauing or breaking through that wall if you've hit it is creating new spheres of influence. Put simply, you have to be social. That doesn't mean going to Realtor functions. That means going to places and doing things with potential clients or referrers. By continuously adding to your spheres of influence while maintaining your previous spheres and marketing to your past clients, you continuously create opportunities for developing new business.

My advice to you in building your new spheres is find something you like to do with enough people that it makes sense as an investment of your time and money. Whether it's a fitness oriented activity or club, a political organization, or service club, find something that appeals to you and get involved. Don't roll in on day one and start hustling business. Build relationships, make friends, and the business will come over time. This isn't a quick fix. Remember, Agent X didn't work the previous spheres overnight. It took time.

By constantly adding to your spheres, while marketing to your previous spheres and past clients, you ensure yourself a pipeline of business. Now your only problem is how to manage all that business. That's a good problem to have.