Center for REALTOR® Development 039: Business Practices for the New Normal with Kim Cameron
In today's dynamic world, the methods and means of communication are shifting, especially for REALTORS®. Maintaining relationships is a key part of the real estate business. Kim Cameron is the special guest on the show today to share some of her systems for staying in touch with past clients and friends. She and Monica talk about the importance of what they are doing now, and how some of these practices may carry forward even once we are out of this time.
Kim talks about her mindset when she is checking in with her clients. When you approach the relationship from service rather than sales, it helps to establish long-term relationships when they need help with real estate. Having these routine conversations keeps both you and your clients energized, and you can check in on things not related to real estate. This may also help you find businesses or organizations that may need some support during this time.
What we do today is going to affect our business down the road. Kim talks about what preparations she is making as she plans for the remainder of the year. REALTORS® are able to work remotely pretty easily, but they now are empowering their clients to be able to participate in real estate virtually. Kim talks about using FaceTime and a photographer to be able to list properties with very minimal contact or exposure. She also has been hosting virtual happy hours that offer an open forum for clients to ask real estate questions.
One of the most important things Monica has found during this time is constant contact, especially when working through challenging situations. It's important to communicate what you know with your clients, and invite a cooperative approach to keep each other informed. As you connect with and continue to help your clients, it's also important to find a way to celebrate wins with your clients and find ways to adapt during this time. Kim and Monica talk about some "drive-up" closings and other ways they are able to tweak their arrangements to still provide that personal connection.
Kim shares some of the systems she uses to communicate with her team and her clients. One of these is the "Weekly 35" which outlines 35 different ways of communication each week, including hand-written notes, phone calls, and compliments. She also talks about how they have adapted this during our time of social distancing. She also talks about some of the ways they strategically maintain relationships with the top 50 or so clients in their database. Monica has a 4-3-2-1 system that she focuses on.
Monica and Kim talk about the potential shifts and changes we might see coming out of COVID-19, specifically a slower market. Real estate is local, so it will vary from market to market, but will likely be slower overall. Kim shares her tips for keeping up with her clients during a longer process. The number one thing is to organize your finances. If you can get your business financially lean, you will be more profitable. Focus on the more economical ways to contact your clients, such as phone calls vs. newsletters. Share the actual data that you can with your clients about your specific market. Kim shares some of the ways she works on price reductions with her clients to adjust to the market.
Regular and intentional communication is what will help you and your clients get through this difficult time. You can cater your content to the needs of your clients, and also remain empathetic towards their situation. As a REALTOR® you may have to have some hard conversations, but do it from a place of caring.
To wrap up, Kim shares some of her final thoughts on moving into a new normal. They've shifted to try to prevent clients from going out to see properties, to save time, and practice safe social distancing. Changing how we communicate with clients about showings may also change the approach for house hunting. As you are communicating with your clients, now and as we move out of this time, listen between the lines for what your client really needs.
Tweetables:
"The big part of the motivation is just showing you care. Those little calls go such a long way. Right now, since we don't have as much face-to-face time with people, those calls are deeper and more meaningful." — Kim
"I thought it would feel impersonal, but what I'm finding is it's not because we're actually having more face-to-face time with the client that we have in the past." — Kim
"Worst-case scenario, you are showing someone that they are thought of and cared about and you feel glad to connect as well. If that's the worst-case scenario, it's all up from there." — Monica
Guest Links:
Additional Links:
Online learning.REALTOR for NAR Online Education
Training4RE.com — List of Classroom Courses from NAR and its affiliates
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTOR®
Monica's Facebook Page
Additional Bio:
Kim is an undiagnosed real estate addict; she lives and breathes real estate from her core since 1997. Kim hails from St. Louis and offers a background in building, rehabbing, property management, and mortgage lending. She built her successful real estate team in 2005 with her husband/business partner Sid and has never looked back. Kim is also a high energy speaker, trainer, and top producing REALTOR®. As an RPAC Major Investor, Kim is committed to advocacy, protecting property rights, and homeownership. She serves the RRC Board of Directors with past service as a Region 6 & Region 8 Vice President, Missouri RRC President, Finance Committee, and Masterminds. Kim serves on the Missouri REALTORS® Executive Committee, RPAC Chair for St. Louis REALTORS® and is the Recipient of 2019 Elizabeth J. Mendenhall E3 Award from Missouri REALTORS® for Energy, Empowerment and Experience.