Are you familiar with the concept of “The Snowball Effect?” It’s a process by which you’re able to leverage one real estate transaction into two, three, five, or more. How is it possible? It happens when you learn how to market in a savvy way that makes the most of the opportunities you’re given. On this episode of The Onion Juice podcast, I’m going to walk through a few examples of how the snowball effect can start and the impact it can have on your business. Are you ready to be challenged to get out of your comfort zone? If so, this one could be HUGE for you!
If it weren’t for one of my early mentors, I’d have missed the power of the snowball effect.
You’ve probably seen the cartoons, or maybe a real-life example of someone rolling a huge snowball downhill. What happens? The snowball gets bigger and bigger as it picks up speed. That’s the idea we need to have firmly implanted in our minds when it comes to our real estate transactions. We need to be looking for the ways we can push that one transaction into another, and another, and another. One of my early mentors set me on this path by stressing the importance of working hard to secure contracts with sellers. Why sellers? Because the snowball works better with sellers. In this episode, I explain how.
How can you turn one deal into many? By starting the snowball effect.
When you work with a client successfully – either a buyer or a seller – you have many opportunities within that transaction to open the door to another transaction. It’s the snowball effect in action, or like dominos falling one into another into another. It’s a chain reaction that uncovers leads that turn into customers that turn into transactions. But it won’t happen if you don’t know how to look for those touch-points where another transaction might be possible. This episode is about that. So do what you can to carve out time to listen.
Coming Soon marketing is a great way to start the snowball effect.
You’ve seen the “coming soon” kind of marketing on Facebook agents do, or even in mailers agents are sending out. It seems kind of silly at first glance… why would people care that you’re about to list another property? Here’s what you need to think about coming soon marketing: it’s not for your current seller’s sake (though that’s good), it’s a way for you to show that you’re active and aggressive to people who are looking for an agent to sell their home. When they check you out on your website or on social media they’re going to see TONS of activity that you’re doing in order to sell your client’s homes, which is EXACTLY what they want to happen for them. Listen to this episode to learn how to leverage coming soon marketing and start your own snowball rolling.
One buyer = one transaction. One listing can get multiple transactions.
When you serve a homebuyer, you’re undoubtedly doing a very good thing. But you’re only touching one client at a time in most cases. But when you serve a seller, you have the opportunity to touch many people simply because you are the point of contact for everyone who wants to see your client’s home. Every potential buyer is a potential person you can serve by becoming their buying agent, which doubles your revenue from the same transaction. You also get to meet other interested people who may not like the home you’re showing but may be open to you helping them find one they do like. That’s how you start the snowball effect from one transaction to turn it into more transactions – and I walk you through it on this episode of the podcast.
Outline of this great episode
- [0:24] Who I am and why we have such a weird name for this podcast.
- [1:41] What is the snowball effect and how does it work?
- [6:04] Small but unnoticed things that start the snowball effect.
- [8:50] Why “coming soon” marketing is powerful in a hot market.
- [10:20] How you can build the mindset to confidently work with sellers.
- [13:50] Continue the conversation by sharing how you’ve build your own snowball.
Resources and Links mentioned in this episode
Our sponsors: www.KnightBarry.com
- Neil’s Website
- For free pdf business plan, text “roundbox” to 44222
- To get the 11 question listing presentation, text “listing” to 44222
- Roundbox Coaching
- Join the Onion Juice – Ideas for Real Estate Agents Facebook Group
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