"Be Afraid, Be Very Afraid"

By
Education & Training with Desert Sage Seminars

"Be Afraid, Be Very Afraid"...You might remember that line from a movie. Ahh, but what movie? Most people think it comes from “Alien”.

No, it comes from “The Fly” (the 1986 remake with Jeff Goldblum and Geena Davis). The scene has two women and a man. The one woman, fearful of doing something, says, “. ..But I’m afraid…” The man says, “No, don’t be afraid…” and the other woman says, very sternly, “Be afraid, be VERY afraid”.

This brings to mind the fear and paralysis that affects some real estate agents who fear the unknown. I have talked to so many agents who tell me “… I refuse to do a short sale or lender owned deal”. Why? They are afraid of the unknown, but the difference here, versus the movie, there is nothing to be afraid of. What most agents fear is the process, which is unknown to them, and sadly they have heard the horror stories and use both of those factors to take that position.

As a result, they are staying away from a large segment of our current market, which likely will stay that way for most of 2009. We will see more foreclosures before we see less, especially with the government-imposed moratorium being lifted last week; thus the sheer number of pre-foreclosure and lender-owned sales (REOs, short sales) will increase. If you are fearful of that part of the market, you might be out of business.

So, if you decide to go after those foreclosed, lender-owned listings, you should answer these questions.

First, are you going to work harder for potentially less income? Yes. These deals take longer, require more documents and certainly require patience. With prices at a record low, and pressure on commissions, your income will be less. That’s a fact, but there is not much we can do about that.

Next question. Will I lose some control of the deal? Yes, as lenders make their own rules, we need to far-more flexible in dealing with many of our standard rules. Your brokers are here to help you with that.

Last question. OK, how do I get these deals? How can I get listings from lenders? This takes work, good ole prospecting. Talk to every mortgage broker and title officer you know. They deal with lenders and asset managers every day. Ask for names, or have them put in a good word for you. It’s just like prospecting for listings. Knock on doors, call people, and make yourself known. Lenders are assigning hundreds of listings to real estate agents all over the valley every day. You might just get in front of that person (or on the phone) on the right day, when they need another agent. Timing is a big part of success. You certainly won’t get these listings unless you prospect for them every day.

Remember when you started in the business? Did your phone ring the first day, with a buyer ready to buy, or a seller ready to sell? Probably not. Think of this as your first day in the business. What should you do to generate leads?

Fear is the #1 killer of successful sales careers. Fear of anything… Fear of rejection, fear of failure, fear of the unknown, even fear of success. Each of these can be overcome by a desire or need that is stronger than fear. That is up to you.

Jon is the administrator/owner and instructor of Desert Sage Seminars Real Estate School located in Arizona. Desert Sage Seminars is your online source for Arizona real estate license CE classes www.desertsageseminars.com

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Jon is an Associate Broker at West USA Realty www.westusa.com                                                    

Jon is also the administrator/owner and instructor of Desert Sage Seminars Real Estate School located in Arizona. Desert Sage Seminars is your online source for Arizona real estate license and CE classes   visit us

 

 

Comments (6)

Mark Organek
And the United States of America - Mesa, AZ
It's not a game, it's your life.

Jon - These are some great encouraging words.  Welcome to Active Rain.  I look forward to reading your "words of wisdom".

Aug 14, 2009 06:07 AM
Jean Terry
Keller Williams Realty Spartanburg, S.C. - Spartanburg, SC

Hi and wwelcome to Active Rain, a great site to network, share, learn, and have fun. Good luck. And if you ever need an agent in the, please call me. upstate of South Carolina

Aug 16, 2009 09:12 AM
Jon Kichen
Desert Sage Seminars - Scottsdale, AZ

Thank you for your comments. I will be sure to post timely information several times a week. And, if you know of any Arizona real estate agents that need license renewal classes, be sure to point them to www.desertsageseminars.com

Aug 17, 2009 12:55 PM
The Trumm Team Omaha Homes for Sale, Real Estate
Keller Williams Greater Omaha - Omaha, NE

Welcome to ActiveRain!

If you would like a few tips on getting the most out of ActiveRain, just click search and type in "Welcome to Activerain by Troy Trumm". The first link returned will take you to my blog about getting started. It has a few simple steps of what to do now that you have joined.

If you ever have any questions, just let me know.

Troy Trumm, Trumm Team, Omaha NE

Aug 18, 2009 07:43 AM
Jon Kichen
Desert Sage Seminars - Scottsdale, AZ

Thanks for the offer Troy. This system is new to me and I know I have alot to learn. I will probably take you up on that!

Jon

Sep 02, 2009 01:02 PM
John Puplava
ABC Home Inspections,L.L.C. - Prescott, AZ
ABC Home Inspections,L.L.C.

Hi Jon,

If i could help in any way as to HOME INSPECTION.Please call me.

John with ABC HOME INSPECTIONS

602-471-7384

Sep 02, 2010 05:23 PM