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Jan 21, 2022
Your Business Pipeline
There isn’t a business out there without a pipeline. A business pipeline is basically the path a client takes from the start and getting to know you, through the transaction, and beyond the conclusion of business (sometimes for many years after). A successful pipeline has 3 parts to it: Before, During, and After.
The “Before” part of your pipeline focuses on attracting and capturing leads. This includes all the things you do before doing business with someone to help them get to know you. You can offer valuable market information to build your credibility. You can explain your services and expertise.
The “During” part includes all of the actions you take with your clients. Whether buying or selling (or both), you have systems and processes in your business to make the experience flow as smoothly as possible and impress your clients. At this stage, you are building your relationship with your clients. One of the big goals is to entice them to do business with you again and recommend you to others.
Finally, the “After” part is what happens after the transaction is over. When the house is sold or the home is purchased, and everyone has settled in… what do you do now? (Hint: the answer is not “nothing.”)
Every pipeline for every agent has those 3 sections. Can you articulate what you do for your client in each part?
What I find for most agents is that there is one area where their pipeline is weak. For some agents, they have a great “During” part and work really hard for their clients. Their clients love them and a relationship is built, but… after the transaction is over, they start to struggle. For other agents, they have a weak “Before” part. They want more leads and listing presentations, but they don’t have the attraction part of their business working smoothly.
To have a successful pipeline, all three parts have to be rock solid. The only way to do that is to have a process for each part. For example, you can create and maintain a consistent marketing campaign in the “Before” phase. Do you have a follow-up system in place if you meet a potential client that is not selling immediately but thinking about it in the next few years? There should be part of your process to keep in contact with that client and keep them up to date on the market in their area.
Processes are just as important in the “During” phase. Have you ever asked yourself “How can I make this experience better for the current client I’m working with?” The answer is having systems for buyers and sellers to get them through the pipeline.
When the transaction is done and you are in the “After” part of your pipeline, you have to think about the next tasks that will ensure your client will never forget you. This is going to be a big key moving forward this year. Think about how you are going to create those strong, long-lasting relationships.
Whatever part of the pipeline you are weak in, there is also a part where you are strong. If you can master one section, you can master the others. Whether it’s coming up with a new way to communicate with potential clients, or a system to stay in touch with past clients, take the time to honestly analyze your business pipeline. It’s good to name-and-claim your weaknesses. That gives you a starting place to making new systems and processes to strengthen your pipeline.
This year, dedicate some thought to the part of the pipeline you want to improve. Remember, there’s always a way forward.
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By Denise Lones CSP, M.I.R.M., CDEI – The founding partner of The Lones Group, Denise Lones, brings nearly three decades of experience in the real estate industry. With agent/broker coaching, expertise in branding, lead generation, strategic marketing, business analysis, new home project planning, product development, Denise is nationally recognized as the source for all things real estate. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.