When we asked the creator the Lifetime Home Support (LHS), Amy Stockberger, to sit down for an interview, we already knew she was someone who would make a powerful contribution to the lives of all real estate professionals.

Last week, she doubled down on the value she delivered during that interview by hosting a webinar with BAM co-founder Byron Lazine

The subject? How to build a network of clients for life. 

And this week, she’ll be joining Byron again on BAMx Office Hours to answer any questions on LHS and the philosophy behind it. (Not a BAMx member yet? Use the code LHS for 20% off your first year or month here!)

Agents who embrace that philosophy are the ones who will do more than survive the changes coming to the industry. They’ll set a new standard for the agents who share their market. 

There’s a reason Amy Stockberger leads the number one real estate team in South Dakota. 

Amy Stockberger…sees the next 10 years and how they’re going to play out more so, I’d say, than 99.9% of all of us and how we look at it…Every time I get around Amy, I learn more about how to be a better agent of change—that’s the agent that’s going to take over in the next 10 years, the one that’s willing to change and deliver the service necessary to cultivate clients for life.

Byron Lazine

During the webinar, Stockberger and Lazine discussed Lifetime Home Support, breaking down each pillar, as well as the mistakes agents are making right now that are hobbling their progress.

Read on to learn about five critical mistakes to avoid when growing your client base. If you’re making one or more of these, the good news is you can take action to correct them, putting you in a much stronger position for the rest of your real estate career. 

#1—Focusing more on brand awareness than on cultivating your sphere

Let’s start with a mistake a lot of agents are making right now: focusing more on putting your brand out there than on cultivating your sphere

Sure, you can accomplish the one while doing the other. But if you’re more focused on getting more eyes on your brand and getting people curious about it, you’re less focused on what your sphere needs from you—and what you can do right now to serve them in a meaningful and memorable way. 

In fact, the more you focus on serving your sphere and building lifetime clients, the more likely you are to build a brand your clients will be happy to recommend to anyone who will listen. 

As Stockberger spells out early in the webinar— 

“I’m going to show you how to turn one client into five more clients using Lifetime Lead Strategies to create clients for life, increase brand awareness, add multiple revenue streams, and attract and retain agents.”

Once you’re focused on the right thing, brand awareness comes naturally. 

In fact, all the results you want to see in your business—enthusiastic brand loyalty, a growing team of powerhouse agents, steady and sustainable growth—come as natural byproducts when you first build a foundation of “serve, serve, serve, then sell.” 

We know…5% of our sphere is going to transact in the next 12 months, right? So, that means 5% of our sphere’s sphere is going to transact in the next 12 months, and 5% of their sphere is going to transact. If you build that business on that ‘serve, serve, serve, then sell,’ you’re literally taking Seth Godin’s blueprint that he laid out in Tribes, where he says if you build a business on service and excellence, that you are going to attract a giant tribe who’s going to continue to bring in more of their tribe, who will then stay with you for life.

Amy Stockberger

#2—Focusing exclusively on one revenue stream

Another mistake Stockberger called out in the webinar was focusing exclusively on one single revenue stream—i.e., commissions from each home sale or purchase transaction. 

If your only source of income is commissions, you’re locked into the constant hunt for clients who are ready to transact. And that creates the following issues:

  • Constant (and palpable) drive to get new clients, often at the expense of existing ones
  • Scarcity mindset when it comes to clients and commission income
  • Living commission check to commission check—and resenting your competition

There’s a way to build additional streams of revenue as well as add high levels of lead generation at the same time. These two things work exactly together, which there isn’t a lot of that out there, I feel.

Amy Stockberger

In brokerages with downlines, about 10% of agents see revenue from downlines they’ve built. But with the LHS approach to client care, any agent can benefit by creating multiple streams of revenue for their business—all of which contribute to the best possible client experience. 

Other revenue streams are critical…the one that everybody is chasing is ‘How do I get more agents,’ …I firmly believe 100% of agents can tap into this revenue stream—and, at the same time, take care of the people that they’re helping buy, sell, and invest.

Byron Lazine

#3—Not having a foundation of “serve, serve, serve, and then sell”

Too many agents have built their businesses on the wrong foundation. And it shows. 

If you’re looking at prospective clients as meal tickets or are overly focused on building your social media presence at the cost of time spent serving your existing clients, your business growth will reflect that sooner or later. 

Thriving businesses need a strong and stable foundation. And the one you need goes far beyond tactics to the core values of your business. 

Just like in any relationship, spend enough time with someone and you quickly learn the difference between their real standards and the tactics they employ to keep you interested. 

Tactics alone won’t keep your business from crashing—any more than they can build real and lasting trust in a relationship—no matter how skilled you are in choosing and deploying them. 

That “serve, serve, serve, sell” foundation is the product of an unshakable standard—a value you as the agent have that your clients can bet on any day of the week. 

So, when Stockberger and her team noticed the lack of that foundation in most real estate businesses back in 2014, she recognized it as a problem with far-reaching consequences. 

We knew the Millennial generation, they’re coming up. They’re going to carry our industry for how long because of their mere size. Their real estate priorities are amenities and convenience. They want these. And they are the most loyal generation of any of our generations so far. So, having that service base just for that reason—to serve to their love language—is big. 

But also, what you said, everything is changing in our industry. I don’t know that anybody can afford, right now, not to have a foundation of ‘serve, serve, serve, serve…’ They just can’t. There’s too much at stake right now on how you’re proving your worth.

Amy Stockberger

This “servepreneur” mindset starts with two guarantees Stockerberger and her team provide all their clients: 

  1. The Effective Cancellation Guarantee: This guarantee makes it official that if the client is not fully satisfied with services from their agent, they can cancel their Buyer Exclusivity Agreement or Listing Agreement (with certain conditions met). 
  2. The Love It or Leave It Guarantee: This states that if a client is not happy with their home within one year of the close date, you will sell it for free (as long as certain conditions are met), and help them find a new home.

    To learn how to implement these guarantees, check out our free ebook.

    Amy Stockberger x BAM ebook

    #4—Not knowing the ROI on everything you’re spending money on

    If you don’t know the numbers for the returns you’re making on every investment in your business, you’re probably losing money—and time—on activities and investments that aren’t serving your business, let alone the clients you serve. 

    Knowing your ROI is closely tied to knowing your unique value proposition (UVP), which is not the same as your job description as a real estate agent. 

    What you invest in for your business should reflect your UVP. And if it’s not about serving your clients at every stage of their journey as homebuyers and homeowners (and probably home sellers, at some point), your investment practices will reflect that—as will your returns. 

    And by investments, we’re including whatever you’re spending on a monthly basis to generate leads. 

    Think of what you spend right now on leads, whether it’s farming, direct mail, money you spend on running open houses, your PPC…think about what that dollar amount is and start thinking about…what is your ROI on everything that you’ve spent.

    Amy Stockberger

    #5—Not leveraging local connections to provide continuous value to your clients

    The fifth mistake is a huge opportunity most agents are missing—largely because they’re not thinking beyond the next transaction (and the next…). 

    With the Lifetime Home Support model, Stockberger and her team have built mutually beneficial relationships with local businesses to better serve their clients at every stage by anticipating their needs and catering to their interests. 

    And the more they deliver value to those clients, the more they activate the law of reciprocity in the relationship. When you do things for others that they appreciate, the more likely they are to want to do something for you, whether that’s choosing you to help them with their next home purchase or home sale transaction or recommending you to someone else. 

    Everybody wants to be taken care of. It’s an innate need that we have. They want to feel valued. And what better way to make them feel valued than by taking care of them for life? We are here for anything they need because we, as real estate agents, we are super-connectors… We’re super-connectors in connecting buyers and sellers, but we’re also super-connectors in helping our clients through all their stages and life cycles of their journey.

    Amy Stockberger

    Learn more about the Lifetime Home Support model here or by watching the full webinar replay. And be prepared to take notes! You’ll come away with this full of ideas to implement in your business as we navigate the upcoming changes. 

    I want everybody thinking about doing their business for the next 10 years—not what got us here.

    Byron Lazine

    Amy Stockberger will join Byron Lazine on May 8, 2024, at 3:00 pm ET during BAMx Office Hours to answer questions about the Lifetime Home Support program. If you’re not already a BAMx member, sign up now so you don’t miss it! And use the code LHS for 20% off your first year or month of membership.