How to generate more revenue per client!

I wanted to give you something this week that will generate immediate revenue into your business with zero out of pocket costs (less than a hundred bucks in the example I will use). You won’t need to generate any more leads and you will make more money with the clients you already have! I think sometimes we get so focused on generating more clients that we totally lose focus on the other side of the equation: how we can generate more revenue per existing client.

revenue with up arrow

Here is one thing I have done in my business for over 7 years to successfully generate more revenue with my sellers….I gave them options!!

 

That’s right. I gave my sellers options. I designed different marketing packages for their home based on the type and quantity of marketing they wanted done. They could choose a higher end marketing package and pay more commission or they could choose the base level package and pay less. They now had options!

 

This is absolutely simple to implement into your business right away and I am going to show you how in this post. But first, is it something you should implement into your business? I’m not talking about from a revenue perspective. I’m talking about from a service perspective. I believe it is! I believe that buyers, of any goods or services, like to have options! We don’t want to be so overwhelmed with options that we can’t make a decision to purchase, but we also don’t want to feel like we only have one option.

 

Sadly, the majority of real estate agents only offer their sellers one marketing package with one fee option. Those agents are making less money and doing their clients a disservice at the same time. The consumer will gladly pay more money if they see the value! We enjoy buying a product/service that we see the value in and are excited about.

 

SO WHAT DOES THIS LOOK LIKE?

There are an infinite number of ways for you to structure this but here is one possible example……

 

Silver Level Package—6%

—  Initial Professional Pricing Analysis

—  On-going Professional Pricing Analysis

—   Professional Negotiations

—Contract and Addendum Consulting and Support

—Contract to Close Consulting and Support

—Weekly communication/Counsel

—Feature home on M.L.S

—Listing featured on Mikesrealtygroup.com

—IDX feed to all major real estate websites…yahoo, truliz, zillow, etc….

—Custom property flyers

—CSS home showing coordination- (this is the company most agents use in Texas to coordinate showings with sellers)

 

Gold Level Package- 6.5%

—Initial Professional Pricing Analysis

—On-going Professional Pricing Analysis

—Professional Negotiations

—Contract and Addendum Consulting and Support

—Weekly communication/Counsel

—Feature home on M.L.S

—Listing featured on Mikesrealtygroup.com

—IDX feed to all major real estate websites…yahoo, trulia, zillow, etc….

—Custom property flyers

—CSS showing support

—FEATURED LISTING ON “HOME PAGE” OF MIKESREALTYGROUP.COM FOR 60 DAYS

  • Most of you that have a website have the ability to “feature a listing” on the home page or other pages

—POWERFUL EMAIL MARKETING BLAST TO AGENTS WITHIN 25 MILES OF LISTING

  • Just Google “real estate agent email blast” for companies you can use- it’s very cheap

—Market and Host one open house within first 30 days of listing hitting market!

 

Platinum level package- 7%

—Initial Professional Pricing Analysis

—On-going Professional Pricing Analysis

—Professional Negotiations

—Contract and Addendum Consulting and Support

—Weekly communication/Counsel

—Feature home on M.L.S

—Listing featured on Mikesrealtygroup.com

—IDX feed to all major real estate websites…yahoo, trulia, zillow, etc….

—Custom property flyers

—CSS showing support

—FEATURED LISTING ON “HOME PAGE” OF MIKESREALTYGROUP.COM FOR 120 DAYS

—POWERFUL EMAIL MARKETING BLAST TO AGENTS WITHIN 25 MILES OF LISTING

  • Just Google “real estate agent email blast” for companies you can use-it’s very cheap

—Market and host one open house within first 30 days of listing hitting market!

—HOST REALTOR LUNCHEON DURING FIRST 30 DAYS

  • This can be paid for by one of your preferred vendors

—1 ISSUE FEATURED PROPERTY IN LOCAL REAL ESTATE MAGAZINE

  • If you don’t already have a contract with one of these magazines, just find an agent in your office who already has a contract with one of them and pay them a small fee to feature your listing in the next magazine.

 

Now I’m not saying the marketing packages I have shown you above are the ones you should use. I came up with those in just a few minutes and you can likely structure something even better based on services you are already providing. I am merely trying to expose you to how easy this is to do and how little money it actually costs.

 

Just do 3 simple things…

1- Design 3 different plans that have different levels of value for what the client is paying.

———This shouldn’t take more than an hour of brainstorming

 ———Don’t forget that you don’t have to just focus on marketing. You can also focus on service oriented items. For example… you could offer a “vacant listing service” where you commit to checking on the property once per week for things like vandalism, theft, security, a/c temperature settings, re-filling the flyer box,etc….

2-Design a simple flyer that shows the different marketing packages side by side.

 

3-Present them with ENTHUSIASM!!!!!   After that……

 

….ITS JUST A NUMBERS GAME

  • One third of the clients you present to will never upgrade their marketing package. That is just who they are-no matter what they are buying. They never pay more and always go with the cheapest option.
  • One third of your clients are either highly motivated and/or they just like to have the best of everything-no matter what they are buying.   These clients will almost always upgrade to one of the higher packages.
  • One third of your clients will be somewhere in the middle. These clients tend to be swayed by how good your presentation was and how much value your higher packages offered. They could go either way!

If you have found this post helpful and would like more great teaching and content on how I built my business to generate over 2million in commissions per year and over 300 homes sold per year…SUBSCRIBE HERE!

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6 thoughts on “How to generate more revenue per client!

  1. Great article! I’ll be brainstorming ways to do this with my business. During the day, I’m an alumni professional at CFNI, but nights and weekends, I’m a fundraising consultant and copywriter.

    It’s hard to come up with packages for my clients. My normal sales cycle includes long sessions of listening to their individual needs, and coming up with a 1 – 2 custom packages for their needs. Any thoughts for consultant-type packaging?

    Thanks again for the article!

    • Joe, I think I would need to know a little more about your business and what a typical “package” for you looks like to come up with something truly beneficial for you. Maybe we can talk a little more about this next week as we do lunch. One possible thing that comes to mind is clearly separating a package with an initial consulting plan from you and then having another package that includes “on-going” consulting with you for a certain period of time. Maybe you could answer the following questions for me… What are your clients greatest needs? Is the fundraising and copywriting business tied together or are those separate businesses? If they work together..how? When you say that you design 1-2 “packages” for your clients, can you tell me what a “package” may consist of for a typical client?

  2. Funny thing – I expected the fees to start lower and work up to 6%. I have had instances when I’ve charged above the 6 but, encounter more people pushing to go under that amount.

    • Hey Cheryl, I think you have to design them in a way that makes sense for the value you are providing, your competition in your area, and the amount of profit you intend to make. You may want to check out my recent post on the “Comparison Shopping” buyer to help you decide where to set your price point. I actually have mine broken down into price points now. I have 1 package for 100k and under, 3 packages for 100-300k homes, 3 packages for 300-600k homes, and 3 packages for 600k+. I actually do have packages for the higher end homes that are below 6% in total fees( we actually do “3%+ flat fee” on those). This made sense for me because it helped me break into a higher end market that I wasn’t currently in and I was still able to make more profit then an average sale. However, 80% of our sales are in the 100-300k price point and we start at 6% and go up on those. The nice thing about starting at 6% and going up is that you can always reduce if needed and it makes sense. Many times I have given the client “features” in our 7% package for the 6% price. They feel like they got a good deal and Im still not below 6% at the end of the day. If you start lower and work your way up to 6% then it doesn’t leave you as much room to be “incentivize” the client without possibly finding yourself at a “really” low commission.

  3. Hi Mike: I have been looking at your information and decided to sign up to get your comments. I am a grandmother who is helping her grandson market flooring products – company is DFW Floors located in Garland. I have am a Catholic who agrees with your trust in our Lord and give great customer service but trying to get a “chance” to give is a challenge now with most real estate offices wanting one to pay to be able to put literature out or contact the agents. All we are asking is a chance to show what kinds of products we offer and the kind of service we want to give. I have talked with James Baker at your office and he referred me to Anita – I did e-mail her with the possibility of getting on the calendar for December – no e-mail back. I realize you all are busy selling but I know from experience some houses need updates, cleaning or some kind of new flooring. I know this is a bit off your normal request – which both questions and answers are good – (I sold real estate years ago. ) but I thought you sounded kind enough to ask???????
    What would you suggest in approaching real estate brokers to not waste their time but to get us a shot at showing them what we can do? I have signed up for your news letter – I enjoy reading your comments. I am not great with the computer – but try. The website is a company website – the e-mail address is my personal e-mail. I will appreciate any suggestions you have. I hope you have a blessed and Happy Holiday Season.
    We are so blessed to live in this Country. May the Lord bless you, your family and all your group. Thanks, kay