You do not need to change your lifestyle to give into the economy, you simply need to change your business plan to work more effectively in the current economy. Different market conditions equals the need to change your marketing tactics. You as a real estate agent, a sales person, an employee simply have to understand that we are in a MORE economy and as you and your family are use to a certain income, a certain lifestyle….unless you make changes now that income will lessen and you will have to stop many of the so called “Extra” things in your life.
The easiest way to explain is the 5 = 25 theory, which I came up with during my coaching and sales training over the last 4 months. You have to understand that there is still plenty of business out there you simply need to reach out to more people to attain your expected lifestyle. If in 2005 for every 5 prospects/clients you were working with turned into money that substantiated your income….currently now in 2008 you need a higher number to maintain that same income, so you may need 25 prospects/clients. Some of you may be on a 10 = 50 or a 25 = 100 situation. Regardless of the ratio you get the point that MORE IS NECESSARY. Means more leads, more marketing, more prospecting, more open houses, more networking, more calling your Sphere of Influence, more knocking on FSBOs doors, etc. Let us not forget your income potential is unlimited regardless of market conditions.
Do not allow the Economy to control you…..make sure you are always in control!!
Many of you will never climb Mount Everest or Scuba Dive along the great barrier reef. Most of you probably will not get your pilots license or ski the Alps (I have and it was awesome). A great number of you will not take the steps necessary to lose that extra 20+ pounds you are carrying around or go out and buy that sports car you have been dreaming about.
These and many other things are not going to happen in your life and not because you can’t do them but simply because you won’t. The won’t is because of you either simply do not want to do it or you simply do not believe you can do it. I am here to tell you that you can….but you gotta want it!!
Many of you will never make a six figure income in real estate or hit $500,000.00 in annual commissions….not because you can’t because you won’t. Most of you will not take the steps to put a solid real estate team and structure together with assistants and buyers agents…..not because you can’t, because you won’t. A great number of you will not take the steps necessary to ensure a strong real estate career by having enough leads/prospects at all times in your pipeline and utilizing a well structured follow up system….not because you can’t, because you won’t.
So, whatever your Mount Everest is make sure you are not climbing it because you absolutely do not want to and not because you think you can’t!!
While he’s been here for a few months now, we’re officially ready to talk about the fact that we brought on Blaine Davidson as a member of our Exeutive Team.This is in a continuing effort to help us improve.In this video podcast you will meet Blaine and learn about all of the awesome things that will be coming to GetMyHomesValue.com clients soon… take a look below!
Daniel Rothamel from RealEstateZebra.com joined us today to talk about the real estate marketing and how, for most real estate agents, the markets don’t suck! You may have to work a little bit SMARTER and DIFFERENTLY than you have in the past… but not necessarily any harder.
So many agents were spoiled from a market where they stuck a sign in the yard and had multiple agreements within 24 hours. While the marketing may not be “over cooked” any more, it is entirely possible to still make a high six figure income as a real estate agent in today’s market.
So What’s So Great About RealEstateZebra.com?
Great question! We wondered that too and decided to investigate. Here’s the scoop. As a real estate agent it is often hard to determine what the best use of your time with when it comes to technology. Daniel takes the time to talk on his blog about things like how to use video in your real estate blog effectively and controlling your online reputation. So why should YOU listen to HIM? Because he owns a successful real estate brokerage and know what he’s talking about… that’s why. 8 )
Great stuff Daniel! Sit back… this one’s a whopping 30 minutes… here you go.
Oh, by the way… it was Jonathan Bentz’s first time moderating… make sure you congratulate him here! By the way… GetMyHomesValue.com’s Mark Boyd and Marc Hargraves haven’t gone anywhere… this was just a “pet project” of Jonathan’s so we had him moderating… Mark and Marc (And maybe someone new even - wink wink) will be back soon!
I truly do not care what the “state of the market” is nor do I care what CNN dictates as a dismal future in the real estate market. What I do care about is the size of my Pipeline! I know that every day houses are being bought and sold!! I must get in contact with as many potential buyers and sellers as possible and putting them into my ProspectMaximizer (CRM) and following up with them through Phone Calls, Visits, Emails and Mailings until they buy, sell or refinance.
In this market I must be adding AT LEAST 4 new prospects to my pipeline for every 1 lost and making sure that they are followed up with automatically and physically so that I can guarantee my 4+ settlements every month. I must use Online Lead Generation as well as Traditional Methods of Lead Generation to ensure that I meet my goal of the biggest Pipeline around. I must tell myself that the only Bogus or Bad lead is the one I do not have and I will do everything in my power to get those leads into my pipeline. I will spend money on Increasing The Size of my Pipeline because I believe in my abilities to turn those leads into clients and then commissions. My pipeline can never be too big if I am using the proper CRM tool and I have the right team of people in place.
So please, do me a favor, make sure the size of your Pipeline measures up to the demands of your goals and your current market conditions so that you can have a long and happy real estate career.
In talking to a FSBO just yesterday, he was not so much intrigued by showing him how I was going to make him more money by going with me and paying my commission (although he was impressed) nor was I able to close him on the mere fact that listing his home with me will bring in better more qualified buyers. His eye brows raised and the head started to nod based on the fact that selling your home on your own and sticking that red and white FSBO sign in the yard opens the doors for anyone to stop by at any time.
He travels quite a bit for his job and his wife stays home with the kids who are both under 8 years of age. After that he told me they sold their Townhouse on their own a few years back without any problems and that is why they are doing it again. I proceeded to explain is it worth the safety of your family? That red and white sign in your front yard is typically an Open Invite to anyone driving by to stop in at anytime of the day and not only knock on your door, but walk around your house, peek in the windows and even bug your neighbors. A lot of these individuals have not even applied for a mortgage and truly have no interest in buying a home. In some cases you could be opening your doors to someone staking out your home for a future burglary. Is it worth it, I continued to ask?
When you list your home with a real estate professional you are automatically providing a much safer and secure means for marketing and selling your home. You will dramatically decrease the chance of drop-ins and nosy window peekers and you will more than not have pre-approved people going through your home.
I then asked, how much is all of that worth? I proceeded to answer it for him as he was truly speechless….It is priceless Mr. FSBO, absolutely priceless!!
We encourage agents all the time to use the promotional power of the internet to their advantage. But we can talk about it until we’re blue in the face – are there any agents out there actually doing it?
One agent in Kansas City is using a series of blogs for ALL THE RIGHT REASONS. Chris Lengquist of Keller Williams Realty, Diamond Partners, Inc., operates one of the best blogs a real estate agent can about Kansas City Real Estate Investing.
Dating back to January 2006, Chris has used his blog to cover real estate headlines in Kansas City and create conversation about the community. Nearly every one of his blog posts generates multiple comments from his readers, which Chris then uses to build social relationships. Like we’ve said in our Real Estate Followup Plan podcasts, you never know when a relationship is going to turn into a lead or referral. Even if the person you’re speaking to isn’t in the market to buy or sell, it doesn’t mean they don’t know someone who is.
In addition to using his blogs to build relationships and show off his expertise in KC real estate, Chris does an awesome job of allowing his readers to get to know him. Without spending much time on Chris’s blog, readers learn that he is a genuine family man who loves Kansas Jayhawks basketball. How many of your prospects know information like that about you after your first meeting?
Chris uses his blog as a tool for marketing and lead generation by positioning himself as an expert and letting readers to get to know him as a person. Because he is so easy to like after reading his blog, he makes his services easy to buy… and remember, people would much rather buy than be sold to.
Alrighty! Here we go with part of the the 14 day real estate follow up plan being discussed by the guys. If you haven’t already, check out Part One of the real estate lead follow up plan video.
It’s our first podcast on video… this is part one of three where Rory Wilfong, Steve Young, Dave Conklin, Marc Hargraves and Mark Boyd discuss ways that agents can successfully follow up with leads that are generated through online avenues, open houses, magazine ads and more.
Too many real estate agents (sales people) still do not get Lead Generation Follow Up yet so I am going to break it down into simple terms so that everyone can understand:
1) You get a lead;
2) You call (talk) the lead right away or leave a message and email the lead;
3) You discover what bits of information you are missing from the lead and you get the information through various obvious places (Google…duh!!);
4) You place all the leads information into your Contact Management (CRM) [Prospect Maximizer] system for regular and automated follow up;
5) You at no point concern yourself with the Leads time frame for doing business for that will allow you the opportunity to falsely accuse the lead of being invalid and since you are not going to only be in real estate for 6 months you can put a lead in your pipeline that has an 18 month window and know they will eventually be your client….trust your abilities and your follow up system;
6) You follow the contact management structure you have established for the lead which includes calling, visiting, emailing, mailing, etc.;
7) You continue following up with the lead until they become a client at which point you can stop referring to them as a lead;
