By Julie Harris

Yesterday you were figuring out where your strongest spokes were.  Where does that income come from?  What is the source?  You should have the answer to that most people have three strong sources of business and now you know what your strengths are.  Remember, we have an agreement we’re never going to drop those we’re just going to get better and better at them. 

Now you should do is draw more spokes on your income wheel and more sources of business, which some people call pipelines and these are the ones you may be curious about.  Other agents are getting business from here, but you’re not quite sure how to make it happen.  These are your potential spokes of income:

• Short sales- REOs - sign calls…This is obvious with the things going on in the economy with mortgages. 
• Lead follow-up

If I had a dollar for every time I had to remind agents to do their lead follow-up, even though they spent a lot of blood, sweat and tears getting the leads in the first place.  If you’re not getting a lot of business from your lead follow-up then you’re not doing it correctly. 

• New construction - What about that?  Builders are giving away all kinds of deals right now. 
• Relocation 
• Expireds
• For Sale by Owner

Maybe you should study relocation and get certified in some of these things.  Maybe you’ve never called a ‘for sale by owner’ in your life before.  Maybe you’re not sure what to say to an expired, but the person sitting next to you in your office has 90% of their business coming from expireds right now these are all sources of business.

To eliminate the ups and downs of real estate in terms of both your emotions and income.  You must have multiple sources of business.  Every top-producing agent will show and tell you they have multiple streams of business and multiple spokes on their wheel. 

Remember a wheel can turn faster with bigger, stronger spokes.  If you only have one spoke, a little pebble in the road becomes a speed bump and all of a sudden your income is gone.  Draw out the spokes you desire.  You don’t have to do all of these just choose one or two you know are highly profitable and decide that’s what you’re going to learn in 2008.

There are many different spokes to add.  I have clients that are adding Hispanic business this year and that’s a spoke for them.  That can mean many different things.  Some of you got a lot of business from a particular type of ad you were running.  Make sure you honor that on the spokes of your wheel.  Pay attention to what’s going on.