What is the secret to success in real estate sales. In my opinion there is no secret. This is a fact not a secret. You need listings. The more listings the more money. The more listings the more buyers. You can't sell real estate if you don't have buyers. If you don't have listings you don't attract buyers. The buyers you connect with come from the inquiries on your listings. Oh but I'm a buyers agent you say. Good Luck trying to make a living. Organized real estate has managed to situate itself completely out of step with todays home buyers with it's obsession with agency. Agency may have worked when organized real estate controlled all the information and buyers were forced to contact a Realtor (TM) for information on homes for sale. The internet has changed all that and will continue to impact the real estate industry as we know it. Todays consumer has not bought into agency and 90% of home buyers search on line looking for a home. When they find one they want to look at they call the listing agent. Organized real estate is slowly but surely being regulated into oblivion mainly because they can't regulate the consumer. All we can do as licensed Realtors (TM) is try to conform to licensing and industry guide lines while simplifying the home buying process by trying to maintain our role as facilitators and problem solvers not problem creators.
What is the secret to success in real estate sales
The truth is we do not sell real estate. Yes we market real estate and our services to attract real estate buyers and sellers. The buyers decide which home they want to buy . We do not have to sell the home. The home sells itself and we help buyers and sellers through the process coordinating all those parties involved in the process . We do more project managing and problem solving and negotiating than actual selling in effect brokering the transaction. The whole process starts with the listing. Those with the most listings make the most money. Those with the fewest number of listings make the least amount of money. That's a fact. A real estate agent with no listings is like a grocery store with no groceries. If you are working and not working to list what are you doing ? If you are paying all the cost of maintaining your real estate license and not working to list how can you expect to make a living and pay your bills ? When you first get your real estate license your entire focus should be on building your own listing inventory. So you ask how do I get listings. First you have to have a listing presentation that promotes you and what you have to offer. Do not be a Realtor (TM) whose entire marketing plan is put on MLS and pray. Your listing presentation should explain what organized real estate offers, what your individual company offers and what you offer. Basically your USP (Unique Selling Proposal) A service that is unique to you and only available to your customers. Once you have that presentation prepared you have to get in front of home sellers and make the presentation. Remember you can not close over the phone or by email or text. Contact is made for one reason to make an appointment to make your presentation.
Many new salespeople get in the business and are well connected in their local community . They have many friends and relatives who support them and this warm market gives them the illusion it's easy to get listings. They have a flurry and ultimately leave the business because they did not work to get listings. You need to work to get listings constantly and consistently. There is only one way to do that and that is to constantly and consistently connect with potential home sellers. If you haven't called every private seller in your market area you aren't working to list. When you get enough listings that you are getting so many buyer inquiries that you are having trouble getting time to list then and only then you know your system is working. Once your listings are generating a steady flow of buyers that are keeping you busy showing houses you have laid the foundation for a successful real estate career. After that it is simply repetition and time management.
Yes you will make many mistakes and will not get every listing. You will learn from those mistakes and improve your closing ratio and become more productive. Remember people have to like you first and foremost before they list with you. Having empathy and caring about their circumstances will go a long way. Our business is about trust if they trust you they will list with you. Trust comes from caring. In closing don't get caught up in all the rules, regulation and bureaucracy that is organized real estate today. Our business is about people so adapt to the rules but focus on the people you hope to serve and get out there and get those listings. Anything else are just excuses for not working. Work to list and be successful . End of storey.
Larry
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