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Rebuilding my Business on Stage... Am I Nervous?

As many of you know, I've reactivated my real estate license after two years away. Go, me.

You may also know that I'm going to do it publicly, sort of.

For over a year now, I've been blogging obsessively about the virtues of running a business based on the personal relationships in your life, rather than the more traditional model of Playing the Number's Game with strangers (cold calling, door knocking, web marketing, farming, etc.)

Well, some have been skeptical, even derisive. And that's okay - as much as I long to be adored by the masses, I realize that's not likely to happen anytime soon. But I'll admit, a question asked by my dear friend Loreena Yeo got me thinking... in a nutshell, she asked me if I thought my former SOI success was due, at least in part, to the strength of the market I worked in. And, by implication, if an SOI approach might not be practical or effective in today's market. (Click here to see the context of Loreena's comment.)

Hmmmmm.

I think an SOI strategy is an incredibly effective one in any market. But do I know for sure? No, I don't. I started my career in a boom market, I won't deny it. Did that smooth the way for me? I don't know - I don't have anything to compare my journey to! Until now...

When Loreena asked me that question back in September, she planted a seed in my mind. COULD I do it again? COULD I run a profitable, productive, successful business based solely on an SOI model... even in today's market?

In September, I was way too busy getting ready for the NAR convention to think on it much further, but that seed grew into a full-fledged challenge. In December, I decided to accept the challenge and re-enter the world of real estate sales. And I've committed to doing it "on stage."

You can read more about my SOI Reality Show here. In short, it's a 12-week journey that participants will take with me as I rebuild my social network that brought me so much business before. It started on March 1. But to answer the original question "Am I nervous?" I have to say that... no. I'm not. I'm excited, I'm optimistic, I'm impatient to get started, even, but nervous? No. Wow.

This is gonna be SO MUCH FUN!

sws

Jennifer Allan, GRI

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Posted by Jennifer Allan, Author of Sell with Soul on 03/03/2008 07:33 PM

Comments (16)

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Originally posted at: Selling Soulfully with Jennifer Allan: Rebuilding my Business on Stage... Am I Nervous?

Post is included in group: Newbies Again

16 Comments on Rebuilding my Business on Stage... Am I Nervous?

MAR

2008

Jennifer,

As many of you know, I've reactivated my real estate license after two years away. Go, me.............

Hey congratulations....You already know the power of the blog. Keep it up and doit right and you'll be on page 1 every day..

Warmest Regards Jerry

I do agree with you that SOI model will definitely work in any market. But when times are good, it may not be as important. After doing this per your help for 1 year, I can see how it benefits me. At the same time, people in my SOI choose me because I have long become their friend first. That's why I do believe that this business model is strong. In a weak market like we do, I guess the SOI-ing needs to be more effective so that you can build a cheerleading squad for you.

If we were to try a new agent - which not much SOI (or strong connections) or in a new town, I do wonder how it would be.

MAR

2008

I've been licensed for 7 months now, have one listing and one sale...the sale coming from a lead off my listing! I do have family and friends (not a lot...I've always been pretty much a loner) who ask me "How's real estate?" when we talk. I don't even have to bring it up -- they do! Will they send me referrals? One co-worker (yes, I still have a part-time job) is on the road a lot, and she calls me with FSBO phone numbers and addresses. Since I don't like calling strangers, I'm keeping them handy...for a rainy day. Yikes. But I don't have a ton of people I can just "take to lunch". So I'm looking forward to seeing how this SOI-thing can work for someone like me. That's where being an introvert (even a borderline one) could make a career in real estate even more challenging.

Good luck. I'll stay tuned and can't wait for the updates.

Loreena - as far as being in a new town goes - I've given this a lot of thought over the last month or so and it CAN be done... as long as the agent applies the principles of a good SOI program AND is confident in his or her market knowledge. Just get out there in the world with your antenna up and a smile and be ready to talk real estate if the topic comes up.

Sue - Introverts are the best SOI'ers, seriously! That's cause we don't try to sell people and we care about how they perceive us... therefore we don't annoy or pester them because we know how much we don't like to be pestered. Ntros are naturals at SOI'ing.

Jennifer -- I am approaching my two year anniversary of first becoming licensed. I started with a bang and then fizzled last year. I was determined to prevail and sat down to look at what I had been doing. I started by working with people who knew me, knew of me, or knew someone I knew. When things got slow I spent a significant amount to time sending letters, working FSBO and expireds with no success. I began to realize that the people around me were the key to my original success and are the key to sustaining a viable business. Now I am working with people from the gym, people from my former life as a high school teacher and those that have been referred to me. Much more fun and profitable.

Oh. . .and I have a couple of current clients who found me right here on AR.

Jennifer- I am sure your journey will be very interesting and successful. SOI is a great place for leads. I started a broker's class last night and the statistics of agents who don't keep in touch with their former clients is astounding. I treat my neighborhood like my SOI and it works.

I can tell you have what it takes to build it after two years away. No question. It's about work ethic and how you relate to other people. You've got that part down...don't you think?

Sounds like an exciting time to be you. I love your books and it makes sense that your SOI strategy would work in any market. Of course, everything works better in a boom market. I am looking forward to seeing how it goes for you in this market. If I were a gambling man, my money would be on you.

Jennifer, I am following your progess. I'm sure you will do well. As you know, I started about a month ago trying to get business in an area where I am not known. My approach is different since I'm relying almost 100% on the expired listings market. I'm happy to say I just listed my second property!!! So the game is on!!!

Jennifer- Yea, you! I'd not bet a penny against you. You're genuine and that comes across, which btw is why I follow your blog!

People in general, I think, are filled to the gills with oversell and hype. If it's not SOI, what are the alternatives? Not pretty.

Jackie

MAR

2008

Jennifer, Keep us up to date on your series and successes in "Newbies Again"!

Jennifer,

I think you're going to do great. Your ideas helped me succeed my first year (last year). I'm finding them helpful this year also. For me, this particular market has not changed the importance of connecting with people. What it did change was the information I need to know when I do meet with them.

MAR

2008

Things are going really well already! Putting a house under contract today, showing this weekend, might be writing an offer today or tomorrow, meeting with a seller on Monday, meeting with another seller next week... All from my SOI (one exception - one from Active Rain!)! This is FUN!

MAR

2008

Jennifer, Thanks for making me think about my SOI again. I have done this business with my company, Lakes and Leisure Realty, Inc for 20 year. Prior to that I worked at bank North of Rochester, MN where I did loans, sold insurance and RE. In the being I gave my real estate cards to everybody, and I mean everybody. The business started to grow right away. I need to do more with my SOI. Thanks, have a great day.

Jim Fogarty

MAR

2008

Good luck!

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