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Just the Facts Ma'am. Sunday Ranting

By
Real Estate Broker/Owner with PMI. Destin

 

Thank You, Joe Friday.

 

I might be giving away my age but so?   

 

In the real estate industry there are certain facts which should be evident.  There is a finite number of buyers and sellers of properties.  I know this number is growing as goes the birth rate but that is not important to this discussion or rant as the case may be.  

Active Rain is a great forum for the exchange of ideas among successful agents or Wanna Be's.  The Wanna Be's generally drift away when they realize that there is no magic gold ring that will guarantee this instant success.  The successful folks show up on a daily basis and give honest comments on what is working, not working, changing, not changing.  

 

The successful agents realize that it is not how many times you fall down but how many times do you get up.  

 

The spark behind this rant is a question asked recently regarding a "new real estate opportunity called Home Light. 

"Does anyone use HomeLight, and what results are you getting? " 

 

A very good question to ask and thank you Keith Kropp  

 

but I think you can substitute any app like Zillow, Trula, Realtor.com and come back with the same answer.  

 

It does not really work over time.  It might be a good way to jump start a career if you have the funds to pay the fee but over time the expense does not make sense.  

 

So going back to my initial comments about the facts in the industry.  The number of buyers and sellers are limited by population size.  These buyers and sellers will do business with folks they know, like and trust.  I don't remember who I stole that line from but it has stayed with me for a long time.  So.  To be successful in this industry you need to get in front of alot of folks who might possibly want to do business with you.  You need to be likable and you need to build trust with these folks.  

You can break this down into many little sub bullets but getting in front of these people is still the key point I want to make.  

 

As a new agent, history tells us that your first transaction will probably be from some one who already knows you and hope fully trust you.  

 

Building your sphere of influence will grow your business.  you can do this in a variety of ways from knocking on doors and introducing your self to just being active in the neighborhood you would like to do business in. 

 

It's just the facts Ma"am 

 

The elephants in the room have been there long enough to either prove their worth or establish themselves as a waste of time and money.  You can believe what you want, You can get leads from a variety of sources, but how you convert them into customers depends upon the trust you build with them by being the best agent you can be.  

 

so basic blog, no pictures, no back links, just my thoughts on a Sunday morning.  I look forward to hearing your thoughts.    

 

 

 

 

Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Peter- I was an agent for one year 30+ years ago. There was no blogging or any of the technology that we have today. I had a few clients I got from my floor time but the majority of my sales were from referrals. 

Mar 01, 2020 05:40 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Mar 07, 2020 06:26 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Peter - your post had me looking back to my first transaction(actually my first two) originated from floor time which was common when I started.  I don't recall working with someone I knew until somewhat later.  

Mar 08, 2020 07:22 AM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much for sharing your experience and your advice.

To be successful in this industry you need to get in front of alot of folks who might possibly want to do business with you.  You need to be likable and you need to build trust with these folks.  

Mar 08, 2020 08:02 AM
John Henry, Florida Architect

Excellent quote that works.

Mar 08, 2020 10:03 AM
Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

We used to get business from floor time too. That is really not the case much these days. Most of our business is referrals - and we have rarely worked with family members. Generally, we perfer to refer them for obvious reasons. My parents were the exception. 

Mar 08, 2020 08:09 AM
Margaret Goss
@Properties - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

Some people may swear by buying leads, but for most, it's a terrific waste of money. I did it once early on that was that. There is no magic here - just hard work.

Mar 08, 2020 09:38 AM
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

No pictures and I read it to the very end!  Very well said and very interesting topic.  Maybe I should know this, but what is Home Light?

Mar 08, 2020 10:00 AM
John Henry, Florida Architect
John Henry Masterworks Design International, Inc. - Orlando, FL
Residential Architect, Luxury Custom Home Design

When content is great, who needs photos?  Nice writeup with plenty of truth and experience behind it.  Thanks!

Mar 08, 2020 10:03 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Peter Mohylsky, Beach Expert - there is no substitute for work.  Some people are always looking for the silver bullet.

Mar 08, 2020 12:03 PM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Enjoyed this read today while waiting on my sellers to come in and sign a contract. My first sale was also from floor duty. I did a lot of cold calling and it worked back in the 80s. Now it is people I know and referrals.

Mar 08, 2020 12:49 PM
Cindy Edwards
RE/MAX Checkmate - Johnson City, TN
CRS, GRI, PMN - Northeast Tennessee 423-677-6677

Yes, this is a good post.  Over the years business changes.  Got to keep moving forward, even when things don't go your way.

Mar 08, 2020 03:08 PM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Peter Mohylsky, Beach Expert - You are right on the money.  It takes hard work and getting in front of a lot of people. There is no magic bullet!

Mar 08, 2020 05:15 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Everybody wants magic beans But they don’t want to grow the beans. :)

Mar 08, 2020 10:37 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Sometimes you have to try 1000 times to get it 2 good responses.

Mar 08, 2020 10:39 PM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
Retired New Hampshire Home Stager

So glad Kathy shared this post. Yes, I agree. People will call the professionals they know and trust. Develop those relationships!

Mar 10, 2020 08:22 AM
Mimi Foster
Falcon Property Company - Colorado Springs, CO
Voted Colorado Springs Best Realtor

My family motto: Being struck down, I rise again. Also good advice in real estate. There are so many gimmicks that come and go, but they don't last. Thanks for sharing your rant.

Mar 10, 2020 03:28 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

There is no silver bullet for success in this business and there are too mnay shiny objects out there looking to drain our bank account with the promise of success. But there are a variety of cost-effective strategies that can and do work, if you are consistent. Blogging works well, as does networking, but the best is staying in touch with past clients and others you know for referrals. My opinion!

Mar 10, 2020 10:45 PM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

Every time I screw up, I learn something.  I will be interested to see how this business changes over the next ten years.  I already see how it's affecting the newer, younger agents

Mar 11, 2020 08:46 AM
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Great Post.  Last year my real estate business was at 70% repeat and referral business.  But through all the ups and downs over the past 26 years ... your statement rings TRUE!

The successful agents realize that it is not how many times you fall down but how many times do you get up.  

Mar 11, 2020 11:44 AM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

The same goes for Mortgage Lender, Peter Mohylsky, Beach Expert ... the importance of trust cannot be overstated.  Consistent hard work and attention is called for to become and remain successful.

Great post,

Gene

Mar 13, 2020 03:23 PM