The fifth maximum synergy rule from More Income, Less Stress deals with your present marketing activities. Unfortunately, most marketing books advise you to abandon your present marketing actions and replace these with new “bigger and better” options. In reality, most real estate managers do not have time to market effectively for prospective candidates and they are not likely to have the time to replace present activities. They must make whatever activities they are undertaking more effective. 

For example, perhaps you are participating in a lead generation activity for prospects. This activity could be answering calls from newspaper advertisements or telemarketing efforts. What do you do with the contacts that you make that do not become prospective candidates? Perhaps they are not ready to become real estate agents, but they have many contacts and may become a productive real estate referral source. 

There is a saying—someone’s trash is another person’s treasure. Find out who in your office would benefit from these leads and find out how this agent can help you with your recruiting efforts. Perhaps a contest can be set up—recruiting help for lead sources. The point is that you have spent good money and time generating these leads. If you do not get something in return for them, you are wasting synergy. Increasing the lead base of your agents is plenty of additional value. 

The contacts may not be excellent real estate referral sources but may make excellent referral sources for one of your partners such as a CPA or financial planner. If you do not feel that you can identify a vendor or competitor who would be interested in a prospect exchange program, let me know. I feel that my contacts will be beneficial to you in this regard.