If you're tired of facing the "ups and the downs" in the real estate business, focusing on lead generation can be the cure.

There's an old adage that says, "If you keep doing the same things, you'll keep getting the same results." If you're tired of living from commission check to commission check, the only real way to "Bump the Slumps" is to change your business plan to focus on lead generation.

Unfortunately, most agents don't have a business plan. Even for those who do, it's still quite common for them to procrastinate about completing their lead generation activities. With both the volume as well as the median home prices declining in most places in the country, only those agents who keep their eye on continually generating new leads will avoid the potential loss of income from the current downturn.

There are essentially only two options for generating leads in the real estate business. The first is "by referral" and the second is through "traditional prospecting" techniques. Virtually all agents who avoid slumps have one thing in common—they do both. The key in either situation is to have "face-to-face" contact with as many potential sellers and buyers as possible.

To avoid experiencing a slump, maximize your lead generation activities by doing the following:

1. First and foremost, you must hit lead generation goals on a weekly basis. If you've targeted selling 4 houses per month, you must generate 12 high quality leads. (As a rule of thumb, about one out of three solid leads ends up closing a transaction with us.) At the end of each week, evaluate whether or not you have hit your lead generation goal. If not, clear your schedule and door knock or call your sphere until you've hit your target. Failure to do this one simple step will be the primary cause of any slump you may experience.

2. Focus your efforts in those areas most likely to produce a closed sale. If you've been listing estate properties and there are virtually no buyers, shift to working with first time buyer listings. (The first time buyer market is generally the least affected by a down market). Call on expired listings and FSBOs in those areas where sales activity continues to remain strong.

3. Prospect for people who have to move: relocation buyers, newly married (or divorced), as well as in areas where there may have been a reduction in work force.

4. Track MLS statistics. If a certain area in your marketplace is significantly more active than others, prospect for listings and hold open houses (even if they aren't your listings) in that area. The goal is to focus your efforts on areas experiencing the greatest number of closed transactions.

5. Ask people in your referral database, "Do you know anyone who is currently renting who may be interested in lowering their monthly payments?" With the current low interest rates, many renters can actually buy a home for what they're paying in rent. You can also prospect for buyers by cold calling or door knocking in high-end rental apartments and rented houses. Since these individuals do not have to sell another property, they are much easier to place under contract.

6. Get "face-to-face" with your referral database as much as possible. In a slowing market, solid referrals are more difficult to obtain. In-person contact with your sphere maximizes the probability you'll receive the referral rather than someone else.

7. Most importantly, don't stay married to the same plan if it isn't working or if the market changes. To "bump the slumps," you must constantly monitor market conditions and adjust your lead generation activities to those areas experiencing the greatest amount of sales activity.