This
term clarifies “oh, so many things” that are critical for success in real
estate.
·
It
is used by Real Estate Brokers as they talk about their recruiting efforts to
keep their offices full to the maximum number of agents they need or want in
their respective companies.
·
It
is used by Real Estate Agents as they talk (or think) about their prospect list
of potential buyers and/or sellers (or both).
They keep track of their follow up calls and mailings to these
prospective clients in order to maintain a steady flow of income.
·
Other
industries who must continue to expect a regular turn-over of clients and/or
personnel must continue to focus on the number of names in their “pipe-line” or
accept the fact that they are out-of-business if the ‘pipe-line” should
suddenly be empty.
Not
all jobs rely on repeat business. Those
who do rely on repeat business are not as concerned for this filling of a
“pipe-line.” However, the businesses
that make their living with a sale of one item must continue to seek new people
to make their next purchase. Certainly,
in real estate, not everyone is purchasing more than one home. So, if you are selling only residential
homes…once you sell the owner-occupant their house it is not likely they will
re-appear for another purchase right away --- in fact, it may be many years before
they will need your services again. Thus, the ‘pipe-line” is crucial for this
agent.
A
couple of tips to keep the “pipe-line” full:
·
Identify
your time each week to be in contact with prospective leads. A wise agent will set aside a specified
number of hours to prospect and guard this time from interruption. No one can solely rely on clients just coming
to you. You must go seek them.
·
Lead
generation is critical to keeping the “pipe-line” full. This is done in various and sundry methods in
today’s technological age. Such things
as: social media, website, newsletter,
neighborhood canvas (by mail or by knocking doors), organic search, paid
search, networking groups, etc.
So,
in closing, remember to remember! This
is a perpetual concept that is critical, so keep focused and don’t give
up. Keep that “pipe-line” full.
