An agent wrote me a few days ago asking for help - (This makes sense, since I AM a Real Estate Sales Coach after all)
She was having a tough time, and want to know if there were any coaching programs that could be provided free until she started making more money.
My heart goes out to agents like this. I wish I could, and have tried... But have learned that I cannot help those who are not already able to produce at least some results.
Here is why...
A coach can help a good runner become a great runner, but cannot help a complete non runner become a competitive runner.
Does that make sense?
There has to be some talent... Some Desire, Some Native Ability, and A General Awareness about what it takes to succeed - Or it's a waste of time for both parties.
In this case my answer to her might be helpful to others. So I share it now with names changed to protect all parties:
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Dear Joan:
You contacted me through Active Rain and asked for coaching help with the idea that you could pay later, once the business came in. You shared that you are having a tough time - but that you used to be fairly successful in real estate, with a specialty of new construction sales. You wondered if my FSBO coaching techniques might work for you.
First, Joan, let me say that I am sure you are a good agent. I am sure that it is your past choice to specialize in the New Construction Market that has led to your present dry spell.
You asked for some help with coaching, but noted you don't have even have cash for postage or mailings, much less payments to a coach. I understand... I REALLY DO. I have taken clients on in the past in similar circumstances. I reasoned, that because my specialty was listing FSBO's - I could provide coaching on telephone prospecting - that had almost no cost and a rapid payoff in listings. In this way, I felt that I could truly help the agent get going for little money - just as I had started out.
IN THE PAST: If a realtor wanted a bunch of listings, fast, then FSBO Prospecting Calls and FSBO Listings were the best, fastest and easiest way to go (IMHO). At that time, FSBO's were mostly just self reliant and strong personalities who were simply giving things a try until they realized they needed a Realtor. I have heard this stage called INTERVIEWING REALTORS. Some actually put up a sign merely to invite Realtors who are paying attention to contact them. They could be educated and listed - profitably if a Realtor was not fazed by the frequent mild rejection events ("No thanks"), and the occasional double barreled rejection speech. ("You slimy Realtors are All Alike, wrecking the housing market and artificially inflating prices... Come to my door again and I will meet you with a shotgun").
I was GOOD and the average FSBO (who really wanted to sell) was easily shown how the real estate market really worked. AT ONE TIME, this conversion of FSBO sellers formed the bulk of my own real estate practice as well as my coaching practice. However, I also found that an agent will quickly hit a wall as far as how many hours there were in a day or week. After you get to about 10 listings, it gets harder and harder to find time for all the appointment setting and negotiating, and seller servicing, and buyer calls and showings.... The agent just does not have as much time for un-interrupted FSBO prospecting.
This is the stage where an agent finds that online marketing and advertising allow the leveraging of time.
With my background as a dotcom marketing guy, this was second nature to me. Consequently, as I grew into this level of practice, Online marketing and effective advertising skills became additional areas of expertise, and areas within which I coach.
TODAY, HOWEVER, THINGS ARE DIFFERENT. The market is so different now, that I really cannot recommend a single minded focus on FSBO sellers (at least not to new agents). Most of the FSBO sellers today are not just 'interviewing realtors' but are actually expireds who still don't believe what the last agent said about the price that is right for their house. There is still money to be made in this sector, but the agent has to be more selective than ever, more able to turn down unlikely scenarios and weed through prospects to choose the good ones.
I think working a good online marketing program and a good referral program are probably your best bets for low cost prospecting. But even this will take some money and some time for posting or specialized web services, hosting of doorway sites, drip email programs, and more. Blogging and social media marketing take time, even if the platforms are free. If your budget is really ZERO then there are a number of ways to go, but Social media marketing, at Facebook might be best. Do you facebook? Read up on that and DO IT !
For referral programs, there are many out there. They main thing they all teach is STAY IN TOUCH with friends and family and past clients. Let them know you are still in the business, from time to time, and that you would like to know if somebody they know becomes interested in buying or selling. Share that this is important to you and that you would be willing to show your appreciation if they can share the names of people you might be able to help. If you do well with accountability then you might want a regular weekly appointment with a personal coach. I don't have a referral coaching program so I would not be that guy... but if all you need is some help knowing WHAT to do, then here you go...
One of the best things to do is just call EVERYBODY you know and visit a bit over the phone. Admit you have not been in touch for some time, feel badly about it, and want to catch up a little. Ask FORD questions and get them talking (Family, Occupation, Recreation, Dreams). Most people love talking about themselves, so HELP THEM GET STARTED AND LET THEM DO IT!Ask about their family, life, where they went on vacation, how is work going - etc... Stay positive. If they are having a tough go, avoid getting sucked into mutual complaining.... Empathize, meet them in their pain and share some encouragement if they are having a tough time...
........but don't share your own struggle - EVER - at least not in detail. FIRST, this call is not about you. Second, you will just sound like a looser if you call to complain. Why would a friend hire you if you could not sell anything?
Agree that their pain is reasonable, given the circumstances, then LEAD THEM OUT of their pain, with statements of hope. If the conversation goes well, invite them to a face to face lunch or breakfast or coffee meeting...
REMEMBER, this call is not a sales call, but a relationship building call.
HOWEVER: If it is a genuine relationship, and you have expressed genuine interest in the state of their life, then you have a right to share a little about yours... As you end the conversation, let them know:
It's been tough season in the real estate world, but that you are actively overcoming this by working hard. Tell them you will be ok if you can just find a few more buyers or sellers (be cheery as you say this).
Just ask.. "So, do you know anybody who might need to buy or sell a house? THEY WILL SAY NO... That's ok. Just go ahead and ask the QUESTIONS BEHIND THE QUESTION. You know, many people say that until they think about it for a minute, or think about the life events that lead up to buying or selling a house, so I have to ask... - Do you know anybody who has a baby on the way - how about somebody getting married (or divorced?) - Maybe you know somebody who is struggling with house payments that are too high? - How about somebody who needs to relocate for work?
If they seem to know somebody, ask for the opportunity to serve them. Get a name, address, and phone number. CALL THEM and tell them their friend mentioned their name as somebody who might benefit from a free consult with a realtor.... Close for a face.
If they don't seem to know somebody who needs your help, just make sure they know that you specialize in serving friends, and friends of friends - instead of strangers... Let them know it would mean a lot to you if they run across somebody who could use your help. Tell them you offer a nice little thank you gift for people who help you in this way - so you hope to hear from them.
In Parting: Ask them - if I sent you a few of my business cards - do you think you could hand them out to somebody who might need a Realtor?
THEN SEND A personal thank you note,
IT WAS NICE TO CATCH UP BY PHONE TODAY. I HOPE __________________COMES TRUE FOR YOU (tap into a dream or mention something positive from the conversation).
AS I MENTIONED, I LOVE HELPING FRIENDS AND FRIENDS OF FRIENDS. HERE ARE A FEW CARDS TO PASS ON IF THE OPPORTUNITY ARISES. IT WOULD MEAN A LOT TO ME.
BEST WISHES... Joan
Everybody knows 100 or 200 people. You included. Call them all. Start today. Some people may only talk for a couple minutes, but some will talk for 20-30 minutes. It's ok either way. This will take a couple weeks if you do it right. By the end of the calling and follow up mailing, you will have some new clients. If you get a machine, don't Leave a Message - that's too easy for both of you and won't go anywhere in the long run. Hang up and try back at another time of day. Maybe they work days? Try some in the evening. Maybe they have a club on Monday night or Wednesday night, try SATURDAY MORNING.
I hope that helps. It's good advice, and from the heart:
I truly wish I could do more for you. Experience tells me I cannot - because it's not really about me... It's about YOU - the agent who is not making any money and wants magic answers.
The only magic answer is that hard work pays off and you need to change something about what you are doing. I have tried to help agents before on the basis of paying from future closings, but it seems like the ones that don't have any money when we meet never do dig themselves out because they are not focused enough or disciplined enough or willing to follow directions.
Once you get to a certain point with free telephone or online prospecting... then advertising is a tool that helps you meet new clients (FOR MONEY) while you are too busy serving current clients to invest more time. That's right. ADVERTISING BUYS THE PROSPECTS YOU DONT HAVE TIME TO CHASE DOWN IN PERSON.
Advertising is EXPENSIVE, but not as costly as peaking at 15-20 deals a year. If you don't understand what I just wrote, you are not ready for a professional coach. If you do understand, then you could benefit a great deal from a professional coach.
My ideal coaching client is already having some success and just needs help being even more efficient and productive. Maybe they do the referral thing pretty well but want to add FSBO CONVERSION to their practice, or vice versa. I am a good teacher, but there has to be a base line of potential. As I said earlier, a good coach can help an average runner become a great runner. But they cannot help a non-runner become a runner.
The best measure of a good baseline is... that the client is already having some success but knows they could do better...
Joan: I could be wrong in your case, and you may be on the verge of a breakthrough. I think so just by the way you write. So I wish you the very best... and if things pick up a bit and you want somebody to help you with accountability and encouragement and techniques that will take you to an even higher level, let me know. I can help you leverage what you are good at, so that you can put more money in the bank by working smarter instead of harder.
Warm regards,
Coach Lonn
eyes set on the 300,000 point number ever since joining Active Rain two and 1/2 years ago. My story is simple. I'm a net neophyte who was dragged into Active Rain kicking and screaming. I was told that this was the wave of the future. I was told that it was a great way to get your name out on the net. I relented and moved forward in stupidity and angst as I struggled to learn 
;)
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