A newbie trying to fiqure it out...

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Education & Training

 

 stamps, postcards, pens etc

 

Hello Everyone:

I am very new at this Real Estate Business.  I passed the state license exam in January, and then went through the two week class at the end of Feburary.   So, I have been at this for three full months.  90 days.  Long enough, I would think, to have listings, and a sale with a buyer that has called the floor line.  But, I have nothing.

I am doing what I am told.  I have my 200 COI people that I send mail to.  I sent my letter of introduction, and now send recipe cards and Open House cards as they fit to my people.  I have a open house, (and now,  two, or three) almost every week.  I telephone the visiters the same day they visit the home to see if they need any more information.  The ones that are, in my opinion most promising I send a couple letters to and call again.  When they do not return telephone calls or do not return emails I stop contacting them.  Now, when I walk around with my flyers the day or two before the open house, I take note who is nice and send them information (letter of introduction and then postcards) as well. 

My best luck has been with FSBO's.   I have almost gotten three listings with those (two knew people in the business, and were not lying, and a third took a discount broker over me), but have not totally bagged those either.

I do have two active buyers, one from an open house, the other from a floor call. 

Therefore, I am using for my avenues of business: my COI, floor calls, open houses, and FSBO's .

Anyway, I went to a seminar yesterday.  The seminar was free, so all it cost me was the gas to get there and my time.  The seminar was actually a sales pitch to go to another seminar ($425 if you sign up today, but $625 if you wait - does not matter I have been unemployed for two years, working only part time jobs through a temporary agency so money is too important at this point to spend on a seminar).

The man at the seminar basically said Open Houses are a waste of time and same with sticking postage stamps on letters.   What you needed to do is "earn the right' for referrals from 100 people.  You were to telephone these people once every forty five days with information that was worthwhile.  Meanwhile you build a data base of people that could help these homeowners  ie.  landscapers, plumbers, etc.  because people just use the telephone book, blindly call someone they don't know and hope for the best.  Meanwhile, you have the answer.  You have a trusted person known to you that can help the homeowner.  And with this knowledge, as well as the knowledge of the market, you begin to earn the right for a referral from the homeowner.   So, he states, each of the 100 people will know one person during the year selling/buying a home and send that person to you.  Can you imagine 100 people sends to you 100 sales during the year?  Awesome!   A lot of people signed up for the seminar.

I don't know.  My company requires Open Houses.  And I do not feel them to be worthless (for me).  I get to meet people when I walk around with my flyers, and send postcards to my COI that are close to the open house location. Most importantly I do have a buyer from an open house, and one of my newbie coworkers actually sold the house they were holding open at the open house  (which I would have done as well, except my buyer did not qualify for the home). 

And, I love writing to my COI.  I keep in touch, and add personal notes.  But, I think I will make a list of people that I telephone every other time.  Maybe start asking them who they use for odd jobs around the house and what they think about the individaul and start building a list of people that can help my homeowners.  So incorporate both ideas.  

And the FSBO's are fun.  I love talking to them and to find out what kind of home they have.  I feel like a know a little more about the area market.  And, there are three more new ones around my home just in the last couple days (I have scouts on the look out for me all the time).   So, I am going to go out and visit them.  And hopefully, this time my listing presentation will be so good that the discount broker does not get the listing. 

 

 

 

 

Comments (6)

Sandy Sivits
ERA Pro Realty - Gaithersburg, MD

Your COI/SOI will bring you business - down the road. 

 

Since the market shifted from that 'anything sells in days - max a week' to a "I can look and only buy when I find the perfect house" (doesn't exist - there is always some compromise) - it is hard for even established agents to put up the numbers they did 2 or 3 years ago.

 

Do some rentals - it's income.  Then your name is on something that you can beat to death with advertising.  Get qualified to do relo business - again something to market to generate other business. 

Jun 07, 2007 01:15 AM
Cheryl Johnson
Highland Park, CA

I would stick with what feels right to you ... it does take time to build your business.  Bob and I usually tell new agents to have six months or so worth of living expenses socked away as you start up.

Also, maybe there is an Old Pro in your office that can take you on as "apprentice"  ... The Old Pro, who may have more potential clients that he/she can comfortably handle, passes a couple of them over to you ... and acts as a coach as you work with those clients .... and you share some the earnings with the Old Pro would you close a deal with one of them ....

Jun 07, 2007 01:20 AM
Monica Bourgeau
Portland, OR
Business Coaching

I would keep doing the Open Houses and writing your letters and working with FSBOS, those are all good things to do, just continue to work to make those more effective. Do you have a sign in sheet at your Open Houses and ask people to sign in with their contact information for instance. Also, following up your letters with a phone call is very powerful, you don't even need talk about business, just stay in front of your people and watch for opportunities. Anytime there is a change in their family, new baby, kids move away, etc, there is an opportunity for real estate.

One thing I did early on is get sets of tapes from Howard Brinton at StarPower. He has interviews with other successful agents that you can listen to when you're in your car. I listen to a tape almost every time I'm in my car and learn a lot of new ideas and new approaches to real estate. I've found these at a big discount on eBay or you can also get them from his website. The main thing is to keep a positive attitude and have confidence that you will make it in this business. Best wishes & good luck!

Jun 07, 2007 01:26 AM
Joe Adams
Major Mortgage USA/Branch Manager - Montrose, CO
Stay positive and up beat, keep working hard.  I believe it takes 2 years to turn the corner and get established in this business, then the referrals start kicking in on a more regular basis
Jun 07, 2007 01:41 AM
New Jersey Real Estate James Boyer Morris, Essex & Union County NJ Realtor
RE/MAX Properties Unlimited, Real Estate - Morristown, NJ

You have to explore all avenues, but bag the paid seminars, they are a waist of your money. 

I have gotten results from Open Houses (you need to impress the visitors with everything you do at a open house) Farming (mailing to the same group of people over and over, at least every 3 weeks, also the mailed piece needs to look professional) Door visits, (same people you mail to, do it 1 or 2 times a year, have something to give them, a special market report you create or ...) Internet this is more tricky for a new agent 80% of home buyers spend their first 3 to 9 months looking online, by that time they may have settled on one agents website, if that is the case even though they may not have met that agent or even phoned or exchanged e-mails, they will feel like they know that agent a little bit and will be harder to pull to your side of the fence so to speak.

 

Jim

Jun 07, 2007 02:16 AM
Mak Kasdopp
Aitkin, MN
Thank you to all of you for the positive comments.  I feel like I am doing what should be done.  I cannot believe that this is an easy field to become accomplished in.  But, I feel that after 90 days I should have more then a couple of buyers.  I am thrilled to have those two however.
Jun 07, 2007 09:35 AM