It takes money to make money. Duh. But How do you make money when there is no money to start with?
I was broke. In debt. No capital, no cash...
The only leverage I had was my time and my work (this is why millions of people keep wearing the handcuffs of hourly wages.)
When I was 24, my life was going for about $11 an hour. People all around me talked about “the security of a steady paycheck” as though steady and unchanging were a good thing. False illusion, as it often turnes out. People stay in the box because it’s safe there. And then they talk about needing to think “outside the box.” Ah, the irony of it.
But I, like you, have found an escape.
I understood that if I wanted to slip the handcuffs of hourly wages, I had to figure out how to be paid according to my abbilities and my accomplishments. Shift from “How long did it take you do this?” to “What is your acomplishment worth?"
People paid by the hour are paid for their activities. People paid royalties, license fees, and sales commissions are paid for their accomplishments. So I had to change!
It doesn't matter how long it takes to sell a house. We only get paid when (and if) we get the job done. Blessing and a curse. Rewards for results only, sure, but it beats the hourly handcuffs, if you ask me. By a mile!
Bottom line: Change makes us uneasy because we cannot see the future. BUT, financial death is the destination of those who refuse to change.
It's so easy sometimes. Go for a quick buck - consequences be damned. Why not cut a corner here and there? Who needs to climb the tree if the fruit is so nice and low. Just jump the fence. Easy. Almost right. Especially when times are tough. And the sweet reward is sitting right in front me... I can explain and justify. But still. Deep inside I will always know what's right and what's wrong. Well, playing by the rules (at times) has it's beautiful sweet rewards. Not easy. But often worth it. Check it out... :)
"You have been just the encouraging kick in the a*s I have needed. Thanks! I still need to work on my daily "to do". Help??
~ Sharron
Doing stuff matters. Doing the RIGHT STUFF is important - and we'll get to that in a moment. But first....
There is to it than the doing part to reach your goal. Yes, prospecting, contacting expireds, calling, door knocking - all that is all well and good. But the important secret is in FOCUS. What you focus on expands. What you focus on you attract into your life.
1. Focus on WHY you are in real estate. What do you like about the business the most? Keep reminding yourself why you do what you do every single day.
2. Focus on FUN and JOY. What do you enjoy doing most? Do more of that and MORE of it will show up. I know I'm going a bit Tony Robbins on you here, but feeling good is so important. Feeling good is contagious. If you feel good, people around you feel good. That includes your prospects and your clients.
3. Focus on PEOPLE. What type of people do you enjoy working with most? Be specific. My list includes "fun, interesting, agreeable, pleasant and ready, willing and able to pay for my services" people. Make a list and keep looking for those and they WILL show up.
4. Focus on your SUCCESS. What are the things you are most proud of right now? Keep reminding yourself and more will show up.
Now back to the DOING - the action part. Here is your plan daily plan to get you up and running quickly:
Before you do anything else, review your FOCUS list every single day, first thing in the morning for 2-3 minutes.
Practice by yourself or with a partner: 15 minutes - prospecting scripts and role playing, 15 minutes - listing presentation
Call one person on your SOI list and chat with them
Call or visit in person one expired listing and/or one FSBO
If weather permits, knock on 10 doors around your listing (or your company listing) and chat with the neighbors
Call two leads on your follow up
Preview two listed properties near your listing
Preview (drive by) two recent sales
And finally, absolutely take at least one full day off per week. No work, no cell phone, no email, nothing that has to do with real estate. Just fun, family, friends.
Is there anything else Sharron should be doing? Any more tips?
There is an army of salespeople standing by, ready to make your phone ring. Always available, dutifully talking to your potential sellers and buyers. Nothing can stop them: no spam filters, no Do Not-Call-Registry, not even a locked front door will prevent them from completing their mission.
Take command of your Direct Mail Army! Your mail pieces are talking to your potential (and current) customers when you’re not there, or when you can’t. Many expired listings will not have a phone number. Vacant properties, sellers out of the area, gated communities.... In all those cases, direct mail becomes your way of introducing yourself to them. After the initial contact, direct mail talks to your leads about the benefits of working with you. It keeps reminding them who you are, how you are different from the regular real estate crowd, and how the sellers benefit by working with you.
Here are eleven quick tips to help you spend less and get more leads, more listings, and more commissions.
Repeat. Don't rely on single mailing. Consistency is just as important as interesting content. Set up a plan to mail at least two or more mailings in a sequence. More is better.
Vary your content. Make some pieces educational, some interesting, and some about you. Don't make each one ONLY about you. Leave ego promotions for your competition.
Vary the format. Mix up postcards, letters, newsletters, updates, fliers. Keep it interesting.
Have a good design. Make sure each piece is well designed. Design creates a powerful first impression about you and your business. Your audience will create opinions before they even read your letter, postcard or a mailer.
Always mail letters first class. Nothing screams "junk mail" like a bulk stamp and a window envelope.
Mail the right message to the right audience. Each piece needs to be target-specific. Expired listings worry about getting the house sold and getting it done right. FSBOs are concerned about commissions. Make each message RELEVANT to them.
Four questions. Every point in every mail piece MUST answer your customer's questions: Why is this important? Why should I care? How will this benefit me? What do I do next?
Keep it personal. A quick way to a trash can is through using sales talk, business jargon, and empty buzz words. Make your language informal, personal, interesting, and easy to read. Write as if you were speaking to your reader in person.
Test and adjust. You will never be done. It's a process that always evolves. Talk to your customers, ask them what worked, what didn't and why. Then go back and make changes. Everything works sometime. Nothing works all the time.
Follow up in person or over the phone, if you can. Don't rely on mail alone.
Use testimonials. Third party can sell you and your service faster and better than anything else. Use pictures, stories, and be as specific as you can.
Daryl from Detroit gets 30 new expired leads every month just by using the Expired Plus direct mail. Here is how he does it. How about you? What is working for you?
From Expired Listing to Lead and Listing Part Two: "Trust"
Trust - one of the most important aspects of real estate business. Why should an expired listing trust you? What do you have to do and say to built rapport with someone who just had a bad experience? Especially if you are a newer agent with less experience, small track record and no testimonials?
Watch the next video where I give you quick tips on how to persuade expired listings that YOU are the right agent for the job.
I recently wrote a post about the real estate marketing getting better in many areas. There are more buyers out there actually making offers and buying, and more sellers ready to move. This is the time to ramp up the listing inventory and go after expired listings and FSBOs.
Pat Argo replied: " Borino, my biggest problem is actually getting in contact with the Expired home owner. Yes, I already use RedX. Most have DNC numbers or there are no numbers. I am lucky if there are 2-3 new calls I can make a week! In my area, about 80-85% of my mailings are returned as well. I have used postcards and personal notes. I have left info at the door."
That's a valid concern: How to effectively contact expired listings? And more importantly, how to turn an expired into a good listing and a commission quickly? In Part One of "From Expired to Lead and Listing", I will give you a quick overview of the process. Check out the following video and download the reference PDF map here.
Oh, and if you're wondering what happened to the demonstration of my stellar sailing skills... well, right after we finished shooting the opening segment the wind just died on us! Completely. The water was like a glass. So next time...
Real estate market is coming back. That's the conclusion of today's AP article.
The U.S. housing market has started to recover from the most far-reaching crisis since the Great Depression, data released Thursday show. Sales of previously occupied homes rose for the third month in a row in June.
Summer's here. Buyers are out. And homes are selling again. So for a while the market may come into a nice balance. Properties moving, buyers buying, sellers selling. But then, as it always does, it will swing towards multiple offers, shortage of good listings, and bidding wars. And then back....
Just another cycle. But here is some more good news...
The share of foreclosures on the market is shrinking. About one out of three homes sold in June was foreclosure-related, down from nearly half earlier this year.
Not as many homeowners in trouble. That's always good.
So, it all means NOW is the time to build up a inventory of good listings. Start going after FSBOs, expireds, even get in touch with your past clients. Price them well and get ready for a good time (all the way to the bank).
Here is a quick tip to get more of your mail opened, read, and acted on. This works with expired listings, FSBOs, even past clients and buyer leads. Enjoy!
If you've ever been on a subway in Paris - especially in winter - it's not much fun. It's late afternoon, people rushing from work. Jammed, tired, cold, ready to get home. French. ;)
Sparkless eyes looking wearily out of the subway train window as the bustling world blurs by.
Then, out of nowhere, a voice. Single brilliant voice cascades over the train noise. Like a silky cello, the first notes of Phil Collins "In the Air Tonight" float through the noisy subway car with passion and resonance. Not many pay attention at first. God knows, many weirdos sing on the train (or do other strange things) every day. Parisians are used to it.
But then, a second voice joins in a soft harmony. As the song grows, expands, picks up rhytm and erupts into an incredible impromptu full-on live performance, the bystanders start to change with the music. First just a look, then a smile, two smiles, three.... From indifferent, to puzzled, to annoyed, to surprised, all the way to joyful.
All because of one song and seven brillian performers of Naturally 7. Check it out - and notice how your mood will change as well. Sometimes, all it takes is one song. :)
Now imagine you approach an expired listing the same way. No, not necessarily singing a Phil Collins song (although it would an original approach, no doubt), but with a positive, friendly vibe, with a warm smile and a geniune optimism. It could make all the difference in the world. Worst case: you make someboy's day a little better. Best case: You end up with a listing and a happy client. Not bad either way, if you ask me. Now enjoy the video! :)
"I must say Borino you made a tight webpage. In my neck of the woods taking listings isn't converting much to sales.
In a regular market I could see the numbers working like your excel video. I can see in my mls (area) however everything that is selling is REO or an agent trying to work a short sale in pre-foreclosure.It's not about if the sellers want to sell they just can't sell at a price to attract a buyer to compete with REO's."
Yes, true. In many areas this is a challenging market, no question. It takes a lot of effort to sell a house, especially with all the short sales and REOs. I know - Southern California has had its share of them.
BUT - it can still be done. There are folks out there today - right now who have to sell: job transfers, divorces, unemployment, you name it...
So how can you pull it off without losing your mind (and money) in the process? And without sacrificing all that's left from the seller's equity?
Here are some tips that helped me sell and close 8 out of 10 listings - even in a crappy market:
1. Market. I had to know my market inside out. What is selling: what area, what type of property, what price range. I would preview and study it every day. Here is the rule: I only list property I KNOW I can sell.
Are you in a market where nothing is selling? Why stick around - CHANGE your market.
2. Price. Price it RIGHT right from the get go. No "testing" nonsense. No "our house is better". I would do my clients a HUGE disservice by overpricing their home.
3. Reductions. I review feedback and showings quickly. I wouldn't wait a month to reduce the price. If there is no action in 7-10 days, it's time to review the CMA and reduce the price. I know, it takes balls to go back to the seller after only a few days on the market. But what's the alternative?
4. Commission. This is my biggest secret. Most REOs and short-sales offer 5%. Some retail listings offer standard 6%. I offer 7%, 4% to the selling agent. No strings attached. No "full price" silly conditions. Great way to get tons of showings (and offers).
5. Terms. What is the worst part of dealing with REOs and short sales? Terms. Long waiting time. Long approvals. Tons of paperwork. Lots of hassle. No inspections. No guarantees. No repairs. Pain in the ass. I make sure I highlight all the positives of my listings: short escrow, full disclosures, instant response, flexible seller, etc.
Yes, many REOs and short sales are priced low, but keep in mind it's not ALWAYS just the price.
6. Condition. Many competing foreclosures are in bad shape and need work (or they do a quick-slap carpet/paint job). My listings need to show great. Clean, spiffy, and sharp. They must stand out.
There is more (and I'll share it with you when Presentation Plus comes out in July). But for now just focus on the 6 points above and you'll do fine.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
It takes money to make money. Duh. But How do you make money when there is no money to start with?
Doing stuff matters. Doing the RIGHT STUFF is important - and we'll get to that in a moment. But first....
Before you do anything else, review your FOCUS list every single day, first thing in the morning for 2-3 minutes. 
Take command of your Direct Mail Army! Your mail pieces are talking to your potential (and current) customers when you’re not there, or when you can’t. Many expired listings will not have a phone number. Vacant properties, sellers out of the area, gated communities.... In all those cases, direct mail becomes your way of introducing yourself to them. After the initial contact, direct mail talks to your leads about the benefits of working with you. It keeps reminding them who you are, how you are different from the regular real estate crowd, and how the sellers benefit by working with you.
I recently wrote 
eal estate market is coming back. That's the conclusion of today's 
Yes, many REOs and short sales are priced low, but keep in mind it's 
;)
;)
